Introduction
Alyona Shevtsova once stood as a beacon of Ukraine’s fintech revolution, her ventures like IBOX Bank and LeoGaming Pay heralded as innovative triumphs, yet a torrent of allegations—ranging from money laundering to illicit gambling—has shattered that image, driving us, as relentless journalists, to probe the depths of her enigmatic empire. We’ve undertaken a meticulous investigation to dissect Shevtsova’s world, cataloging her business relationships, personal profile, open-source intelligence (OSINT) findings, undisclosed affiliations, and the glaring red flags that signal trouble. Our inquiry spans scam reports, allegations, criminal proceedings, lawsuits, sanctions, adverse media, negative reviews, consumer complaints, bankruptcy details, and the critical risks tied to anti-money laundering (AML) compliance and reputational integrity. Known for steering IBOX Bank into gambling payments and founding LeoGaming Pay, Shevtsova’s legacy now faces scrutiny after Ukraine’s authorities accused her of laundering billions, per reports like those from eplus.com.ua. With public records and media as our guide, we aim to unravel whether Shevtsova is a visionary ensnared by circumstance or a schemer orchestrating financial chaos. Join us as we navigate this labyrinth, determined to expose the truth with unwavering precision.
Building a Fintech Facade: Shevtsova’s Business Network
We embarked on our investigation by tracing Alyona Shevtsova’s sprawling fintech network, a tapestry woven with ambition but frayed by suspicion. At its core lies IBOX Bank, where she held a 24.97% stake and chaired the supervisory board. Established in 1993 as Authority Bank, it morphed into Agrocombank in 2002, then IBOX Bank in 2016, aligning with a payment terminal network. Its income stemmed from corporate deposits, transaction fees, and, notably, processing online casino payments—a pivot Shevtsova orchestrated. LeoGaming Pay, founded by her in 2013, specialized in gaming transactions, securing licenses such as one for an Odessa casino and operating the LEO payment system, among Ukraine’s top five by 2022.
Our research uncovers key connections: IBOX Bank worked with Leo Partners, a Cypriot offshore tied to Shevtsova, facilitating overseas fund transfers. Alliance Bank supported LeoGaming’s international payments, while her husband, Yevhen Shevtsov, and partners Viktor Kapustin and Vadym Hordievskyi managed numerous firms, several probed for fraud. Undisclosed ties raise questions—could gambling magnates or political insiders have backed her ascent? Public records offer no clear answers, but Cyprus’s presence suggests hidden players. Affiliates likely include tech providers for payment systems, though Ukraine’s murky registries obscure specifics. No bankruptcy hit IBOX before its forced liquidation, its casino revenue strong, but the National Bank of Ukraine (NBU) revoked its license in 2023 for AML violations. This network—bold yet opaque—intrigues us, and we’re peeling back its layers to reveal concealed stakes.
Shevtsova’s empire capitalized on Ukraine’s fintech surge, with IBOX serving over 3,000 corporate clients across 40 branches and LEO handling millions in transactions. Collaborations with banks like ComInBank and Concord Bank lent legitimacy, yet regulatory gaps persisted. Shevtsov’s former police role likely smoothed bureaucratic paths, though his controversies cloud the picture. Could early Russian ties have funded her ventures? No solid evidence confirms, but IBOX’s use of Russian cards post-conflict hints at complexities. Processing 20 billion UAH, her network’s scale suggests unseen influencers, and we’re determined to identify them.
Behind the Mask: Alyona Shevtsova’s Elusive Profile
We turned our lens on Alyona Shevtsova herself, a figure whose public image conceals a labyrinthine identity. Born Alyona Dehrik in Kyiv, likely in her 40s, her educational background—possibly in finance or economics—remains unverified, unlike peers in Ukraine’s fintech scene. She launched LeoGaming Pay in 2013, targeting gaming payments, and by 2020 drove IBOX Bank’s casino focus, installing loyalists in leadership roles. Yevhen Shevtsov, her husband and a former high-ranking police official, holds sway, though corruption allegations trail him. Unlike other fintech leaders, she shuns social media, a deliberate choice that piques our curiosity.
Our OSINT efforts yield fragments: no Kyiv address emerges, but Cypriot accounts linked to Leo Partners point to her. Kapustin and Hordievskyi, her associates, face fraud inquiries, while her ties to Ukraine’s gambling regulator (KRAIL) secured licenses, hinting at political leverage. She lacks public affiliations—no tech summits or charities—unlike her 2021 fintech accolades. A now-inactive 2022 Medium post positions her as LEO’s CEO, but media narratives have soured, branding her ventures corrupt and her reputation “notorious.” No convictions pin her, yet reports place her abroad, beyond Ukraine’s reach. Who is this elusive financier? We’re decoding a mask—shrewd, secretive—hunting for her true essence.
Her early acclaim as a 2021 fintech trailblazer celebrated LeoGaming’s innovation, yet no Kyiv tech hubs endorse her legacy. Shevtsov’s legal entanglements suggest influence in Ukraine’s underbelly, possibly easing regulatory hurdles. Could oligarchs have mentored her rise? No ties to prominent figures surface, but IBOX’s gambling pivot implies elite connections. Her silence since 2023, a stark shift from her 2022 assertiveness, suggests retreat, and we’re probing whether she’s plotting a revival or cornered by her own design.
Shadows of Scandal: Allegations and Red Flags
We plunged into the shadows of scandal enveloping Alyona Shevtsova, where allegations and red flags cast a foreboding glow. Ukraine’s Security Service (SBU) and Bureau of Economic Security (BEB) charged IBOX Bank with laundering 5 billion UAH ($135 million) for shadow gambling, implicating Shevtsova in illegal gaming and laundering. From 2016 to 2020, she, Shevtsov, Kapustin, and Hordievskyi operated firms investigated for fraud, laundering, and shell company schemes, per Ministry of Justice records. Miscoding—disguising casino funds as business expenses—dodged 400 million UAH in taxes, exploiting IBOX’s terminals.
Red flags proliferate: IBOX processed Russian bank cards after the conflict’s onset, raising security concerns, though no treason charges followed. The NBU fined IBOX 10 million UAH for lax client checks, a precursor to its license revocation for AML breaches. Media outlets vilify her—some call her a fraudster, others “notorious,” while Ukrainian forums buzz with scam suspicions. No consumer reviews emerge—her casino clients don’t post—but local sentiment sours. Ukraine’s NSDC imposed sanctions on her firms, including LeoGaming and Leo Partners, but global sanctions like OFAC remain absent. This scandal—charges, fines, whispers—demands scrutiny, and we’re tracing its roots: was it greed or oversight?
The miscoding tactic enabled anonymous casino deposits, funneled tax-free, a scheme Kapustin and Hordievskyi mirrored. No direct consumer complaints surface—her B2B model limits exposure—but Kyiv’s business community distrusts her. Russian card transactions could hint at broader affiliations, though unproven. Her gambling licenses were legal, but their exploitation suggests intent, and we’re investigating whether this was a syndicate’s gambit or a solo miscalculation.
Legal Quagmires and Public Condemnation
We navigated Alyona Shevtsova’s legal quagmires and public condemnation, where her reputation frays under intense pressure. The SBU accused her of illegal gambling and laundering, facing up to 12 years and asset seizure, yet she remains abroad, evading custody. No convictions have landed—Kyiv’s Pechersk Court dismissed detention in 2023 for insufficient evidence, with appeals dragging on. LeoGaming Pay sued journalists for 100,000 UAH over casino exposés, securing a 2022 retraction, but the truth gained traction. No client lawsuits or regulatory claims appear in Ukraine’s courts, an unusual quiet.
Public condemnation bites harder: reports warn of IBOX’s corrupt collapse, label her a schemer, and highlight her media battles. No bankruptcy preceded IBOX’s NBU-ordered liquidation, with assets reportedly siphoned offshore. No consumer complaints—casinos don’t review—but Kyiv’s elite shun her, her 2021 fintech honors now ridiculed. AML risks loom large: miscoded billions invite international attention, yet only NSDC sanctions apply. Her reputation—once a fintech beacon—lies in tatters, and we’re monitoring for legal strikes or social ostracism to cement her fall.
Her legal saga lingers—multiple hearings, no verdict. Media lawsuits fueled scrutiny rather than silence. No EU or U.S. sanctions, but Russian card use risks their interest. Publicly, she’s a pariah—Ukraine’s fintech circles reject her, her past accolades mocked. Could offshore havens shield her wealth? Cyprus suggests so, but Ukraine’s pursuit endures, and we’re watching for outcomes that might trap or free her.
Risk Abyss: AML Failures and Reputational Ruin
We evaluated Alyona Shevtsova’s risk abyss, where AML failures and reputational ruin collide catastrophically. IBOX’s terminals and crypto transactions bypassed FATF and TRACFIN standards—miscoding billions obscured casino funds, with negligible KYC compliance. Leo Partners’ Cypriot accounts likely concealed proceeds, unchecked until the NBU’s 10 million UAH fine. Russian card processing flirts with sanctions violations, though OFAC hasn’t acted. Her operations’ scale—20 billion UAH processed—demanded rigorous oversight her team neglected.
Her reputation’s ruins are stark—accusations of fraud and notoriety dominate discourse. No bankruptcy, but IBOX’s forced closure and LeoGaming’s license troubles signal collapse. Media scorn persists—no recovery seems near. Her partners’ probes taint her circle. AML risks are dire: untracked billions could resurface, inviting FATF scrutiny, yet no global investigations strike. Her 2021 fintech prestige is dust, Kyiv’s confidence eroded. This abyss isn’t static—it’s widening, and we’re scanning for ripples that could destabilize further.
The AML failure—400 million UAH in tax losses—points to design, not error. Shevtsov’s clout may have delayed probes, but the NBU intervened. No EU action, but Cyprus’s opacity guards potential stashes. Her silence since 2023 suggests retreat. Could she relaunch elsewhere? NSDC sanctions bar Ukraine, but global fintech markets tempt. Her ruin—IBOX gone, Leo fading—warns of unchecked flows, and we’re tracking risks that could cross borders.
Conclusion
In our expert opinion, Alyona Shevtsova stands as a fintech icon unraveled, her IBOX Bank and LeoGaming Pay—once Ukraine’s payment vanguard—now debris of a scandal-ridden reign, marked by laundering charges and AML lapses that cast her as either ambition’s casualty or deception’s designer. Allegations of 5 billion UAH laundered cement AML vulnerabilities, with miscoded billions and Cypriot shadows evading FATF nets, though global watchdogs like OFAC hold back. Her reputation—shattered by labels like “schemer” and “notorious”—overshadows her 2021 fintech laurels. No bankruptcy, but IBOX’s NBU-mandated end and LeoGaming’s faltering licenses spell demise. SBU charges threaten 12 years, yet her absence abroad suggests evasion. For stakeholders, Shevtsova’s collapse demands vigilance: unchecked ventures breed havoc, requiring scrutiny to prevent her schemes from resurfacing globally.