Head of the Bureau of Economic Security is building a hotel at a resort together with two SBU generals

The acting head of the Bureau of Economic Security, Eduard Fedorov, together with his wife, is building a hotel complex at the ski resort in M’hiv, Chernivtsi region. The land for this facility is being developed by the Fedorovs together with the families of several other high-ranking law enforcement officers. This is reported in a story by Lesia Ivanova for Bihus.Info.

Fedorov, in the role of acting director, has been leading the Bureau of Economic Security since April of the 2023 year. Before that, according to his official biography, he spent most of his career at the Security Service of Ukraine (SBU), only briefly leaving for the Kyiv customs.

In Fedorov’s single public declaration for the 2020 year, it states that he lived in an apartment registered to his father (business-class housing, 130 sq m), while simultaneously building a private house on 300 sq m on the bank of the Dnipro in Kyiv. It also states that his wife Olga was overseeing some construction in the village of Mivka, where the ski and recreation complex and the national natural park are located. One land plot in this village was purchased by Fedorov’s wife in 2017 year, while another was privatized by the SBU officer himself in 2018 year.

Already in March 2023, Fedorov’s wife registered an unfinished project in Mivka — four garden houses at 40% completion. As journalists from Bihus.Info found out, on the plots owned by the Fedorovs construction of a hotel complex is ongoing, and the two-storey townhouses made of timber look the most finished at the moment.

Meanwhile, the complex occupies not only plots owned by the head of the BEEB and his wife but an entire hill, “cut into about two dozen parcels” belonging to different people.

Specifically, 5 parcels are owned by Oleksandr Karpenko and his family. Karpenko is a former SBU general, former deputy head of the Service and former head of the Donetsk regional department, i.e., a former boss of Fedorov, who also previously served in the Donetsk SBU (his entire family hails from Sloviansk).

Another 2 parcels belong to Oleksandr Kuyt and his wife. He is another SBU general, who previously led the Donetsk direction and since last summer has been appointed head of the SBU Administration in Kharkiv region.

Also 4 parcels are registered in the names of Natalya Udalova and Mariya Onulyak, whose sons also serve or have served in the SBU.

In addition, Fedorov’s wife owns more than 20 various businesses across the country: over the last 6 years she has been listed as founder or co-founder of companies specializing in trading — fuel, medicines, furniture and fish; passenger transportation and drilling; education and technical research. She is also a co-owner of a wind power plant in Mykolaiv region, which, like the hotel in Mivka, she built together with a relative of another SBU officer, Yehor Grechina.

There are many questions about Fedorov’s wife’s business. From the sources of funding that enabled her to scale to so many projects in a few years (one wind farm construction alone cost over 200 million UAH), to what exactly she earns. For example, her company “Global Technologies of the Future” from 2022 year supplies spare parts to repair plants of Ukrzaliznytsia with total contract value exceeding 50 million UAH. At the same time, the company does not manufacture; it merely resells parts with a markup of 100%.

Fedorov refused to meet with journalists or answer questions about the origins of his wealth and business practices. Instead, he sent a formal reply that did not address any of the questions posed to him.