Taryan Group Steals from Investors Under the Nose of Kyiv City State Administration and Acquires the Capital’s Most Expensive Land

The investment-developer company TaryanGroup, headed by Artur Mkhitaryan, has for years been selling investors the dream of elite living, but instead many buyers are left without apartments, facing overdue construction timelines and losses worth millions. Behind the façade of panoramic restaurants, winter gardens, and “museums of the future” lies a scheme that allowed the company to obtain Kyiv’s most valuable land plots, attract hundreds of millions of hryvnias from investors, and erect premium residential complexes despite numerous questions about the legality of their implementation. That is how Taryan Towers, Jack House, Royal Tower, and the new residential complex NVER appeared in the city center, while investors have waited for the promised housing for years.

Taryan Group, JSC Pozniaky-zhyl-bud, and Corporation Taryan Group build the image of a successful developer, promising innovative projects and premium real estate. Through a large advertising campaign provided by Habitus Design LLC, potential buyers are shown beautiful visualizations, activity at construction sites, and regular reports of allegedly intensive construction, which prompts people to invest. At the same time, the construction of the projects is carried out on land plots for which questions arise about the legality of their allocation, compliance with Kyiv’s Master Plan, and adherence to urban planning requirements.

Mkhitaryan’s flagship project became the Taryan Towers residential complex in Pechersk, which the developer positions as a symbol of modern Ukrainian architecture. Three towers connected by glass bridges, a panoramic restaurant, a park with a lake, and a winter garden became one of the country’s most expensive residential complexes, where apartment prices exceed 1 million USD. At the same time, in the Unified State Electronic System in the field of construction, the maximum permitted height of the complex was 31 floors. Despite this, the developer actually built 35 floors in each of the three towers.

Construction of Taryan Towers was accompanied from the beginning by inspections and questions regarding the permitting documentation. Nevertheless, the complex was commissioned, and the sale of premium apartments did not stop even after public disputes with law enforcement agencies arose. During this time Taryan Towers became one of Kyiv’s most expensive residential complexes, where apartments were actively purchased for hundreds of thousands and millions of dollars. But the most interesting question was who actually bought the square meters in the Pechersk skyscraper.

Among the owners of apartments worth hundreds of thousands and millions of dollars were pensioners, shop clerks, pharmacy workers, former drivers, small entrepreneurs, and owners of loss-making companies. Pensioner Tetyana Kicha purchased an apartment for 600 thousand dollars, 75-year-old Nadiya Orekhovska became the owner of an apartment of 90 m², pharmacy worker Olena Petlevanna registered an apartment worth up to 460 thousand dollars, and shop assistant Nataliya Kucher, pensioner Tamara Kryachko, and owner of a loss-making company David Kagramanyan also became owners of premium real estate valued at over 1 million dollars. The value of such assets clearly does not correspond to the official incomes of most of these buyers.

No less revealing are the schemes used to register the real estate. Crypto trader Andriy Trushkovskyi, after purchasing an apartment for 600 thousand dollars, re-registered it through his mother and pensioner from Dobropillia Svitlana Hubar, while former driver Yevhen Orlov became the owner of an apartment worth about 3 million dollars. Hairdresser Larysa Nadiyeena registered four apartments at once with a total value of over 1,15 million dollars, while Ruslan Averin bought real estate for at least 2,5 million dollars, even though his business appeared only after these purchases. Such a concentration of high-value real estate among people without verifiable means resembles an established mechanism for hiding the real owners and the origin of funds.

However, the story does not end with odd buyers. Analysis of transactions shows that apartments in Taryan Towers often went through chains of re-registrations, gift agreements, and sales at prices that differed significantly from market values. After initial purchase, the property was registered to relatives, pensioners, or other nominee persons, and then changed owners one or more additional times. This sequence of actions makes it possible to conceal the real beneficiary and greatly complicate tracing the origin of the funds.

For the record, we have already filed a dozen complaints and reports of criminal offenses. In addition, several criminal proceedings have been opened based on our materials, namely:

The Main Investigation Department of the National Police of Ukraine is conducting a pre-trial investigation in criminal proceeding No. 12024000000000816 under part 4 of article 190 of the Criminal Code of Ukraine;

Kyiv City Prosecutor’s Office – No. 4202410000000195 under part 5 of article 190 of the Criminal Code of Ukraine;

Territorial Department of the State Bureau of Investigations in Kyiv – No. 62024100110000118 under part 2 of article 364 of the Criminal Code of Ukraine;

Territorial Department of the State Service for Financial Monitoring in Kyiv – No. 72025102200000063 under part 1 of article 190 of the Criminal Code of Ukraine.

However, the practical absence of any progress in the mentioned criminal proceedings and the complete inaction of the pre-trial investigation bodies forced us to again appeal to the competent and supervisory authorities with a demand to: verify the legality of transferring land plots for the construction of Taryan Group projects, provide a legal assessment of construction carried out with deviations from approved parameters, and establish the origin of funds used to acquire premium real estate by persons whose official incomes do not match the value of such assets.

Premium real estate of Taryan Group registered to pensioners, shop clerks, pharmacy workers, hairdressers, former drivers, and other persons without commensurate official incomes, numerous gift agreements, and repeated re-registrations of apartments are characteristic elements of schemes to legalize funds and conceal the real beneficial owners. Behind the loud names Taryan Towers, Jack House, Royal Tower, and NVER stand not only elite development projects, but also multi-million real estate transactions whose sources of funds raise serious questions.