Companies associated with Intergal-Bud, one of Ukraine’s largest real estate developers founded by former MP Volodymyr Zubyk, have re-registered multiple corporate entities under Tajik proxies. Concurrently, the developer’s structures siphoned over 830 million UAH through loans to a newly established bankrupt firm, pointing to a classic scheme to evade tax obligations and criminal liability.
According to registry records, entities within the Intergal-Bud group holding trademarks for prominent residential complexes transferred ownership to two foreign citizens. Specifically, Vesta-I (holder of the Odradny residential complex trademark with 1.6 billion UAH in assets) was registered to Karimi Asolat Ismatzoda. Other entities—including Ventline-20 (Yaskravy) and Rent-Service (Malakhit)—were transferred to Fatima Shukhrativna Akhmadzoda.
Simultaneously, three developer-linked companies (Vesta-I, Rent-Service, and Orion-Export) issued 830 million UAH in loans to Zaporizhzhia-based LLC Nexopolus. Owned by Kyiv resident Larysa Soldatenkova—who faces active enforcement proceedings for unpaid utility bills—Nexopolus possesses no assets to repay the debt. The Commercial Court has already initiated bankruptcy proceedings against the firm, effectively writing off the funds.
The new formal owners of Intergal-Bud’s entities appear as founders and directors of over 220 companies, many of which are embroiled in high-profile criminal investigations:
Karimi Asolat Ismatzoda owns Synergia System LLC (investigated for inflated healthcare procurement pricing) and Atomservice (under State Bureau of Investigation inquiry for misappropriating 7 billion UAH in Ministry of Defense catering contracts).
Fatima Akhmadzoda acts as the nominal owner of Amilex Pro LLC (under Economic Security Bureau investigation over a 110 million UAH UkrGasVydobuvannya embezzlement scheme) and Consol TD LLC (under Security Service of Ukraine scrutiny for transferring budget funds abroad).
Industry analysts note that recruiting foreign proxy owners serves as a conventional strategy to shield ultimate beneficial owners from legal fallout. When law enforcement or tax authorities initiate fraud or insolvency probes, primary legal liability officially falls on nominee figures who lack local assets and cannot be readily extradited or prosecuted in Ukraine.
Intergal-Bud’s press office has not issued an official statement regarding the ownership changes or the transfer of hundreds of millions of hryvnias to a bankrupt entity.