Detectives from the National Anti-Corruption Bureau of Ukraine (NABU) have raided developers of luxury complexes in Bukovel, uncovering evidence of large-scale shadow transactions used by officials to purchase high-end apartments. According to investigators, money laundering and artificial price suppression schemes were allegedly used by the family of a judge and a deputy regional prosecutor.
Law enforcement executed search warrants on July 16 at real estate vendors operating in the Glacier Premium Apartments, Mountain Residence, and Escape City developments. Investigators state that public official buyers used a «20/80» payment structure: only 20% of the property’s market value was paid officially, while the remaining 80% was handed over in undeclared cash.
To justify these abnormally low sale prices to regulators, investment agreements were backdated to create the illusion that the real estate was purchased during the early foundation stage of construction.
«Greedy official buyers demanded receipts from sellers for the portion paid in undeclared cash. Computers seized during the raid contained draft receipts for every apartment and contract files confirming that the dates were fictitious and that payments were settled ‘under the table,'» according to a source familiar with the investigation.
A key focus of the investigation involves real estate purchases made by Judge Svitlana Hrabets—who notably passed the High Qualifications Commission of Judges (HQCJ) integrity assessment—and her husband, Ihor Hrabets, Deputy Prosecutor of the Kyiv Regional Prosecutor’s Office.
In recent years, the couple has acquired assets valued at over $1 million. In 2023 alone, they invested in apartments within the Mountain Residence and Glacier Premium complexes with an estimated market value of nearly $550,000, though official transaction records show figures drastically below market rates.
NABU has launched criminal proceedings under Part 3 of Article 209 (Money Laundering) and Article 368-5 (Illicit Enrichment) of the Criminal Code of Ukraine. The digital evidence and shadow accounting logs seized during the searches are expected to serve as grounds for formal indictments against both the real estate developers and their high-ranking buyers.