Confiscation on Paper: How Medvedchuk’s and Rabinovich’s Assets in Osokorky Came Under Vadym Stolar’s Control

Confiscation on Paper: How Medvedchuk’s and Rabinovich’s Assets in Osokorky Came Under Vadym Stolar’s Control

Publicly, the state reports the confiscation of pro-Russian politicians’ assets and the “cleansing” of the economy from collaborationist capital. In practice, however, the opposite model has operated in Kyiv for years: the assets of Viktor Medvedchuk and Vadym Rabinovich have not been removed from circulation; they have been preserved, repackaged, and continue to generate profit. The key coordinator of this scheme is Vadym Stolar, who in effect became the nominal holder and operator of the property of people who are formally under sanctions.

The scheme was based on more than 50 hectares of land in the Osokorky area of Kyiv. These are assets registered to PP “OREST,” LLC “Osokorky-7,” and LLC “Akadem-Club.” These companies had lease agreements with the Kyiv City Council and corporate rights that in 2022–2024 were seized in criminal proceeding No. 62021000000000702. After the decisions of the Pechersky District Court, law enforcement agencies were obliged to immediately enter prohibitions into the state registers. This was not done. That inaction opened a window for further registration manipulations.

In October of 2022, corporate rights were rewritten from offshore structures linked to Medvedchuk to Oleh Yashchuk, and that same day — gifted to Oleksandr Bilyavskyi, a person without a business who appears in identification databases as Stolar’s bodyguard. The assets then passed to Petros Togramadzhyan, Vadym Ivanov (a citizen of Latvia), and Valeriy Mishchenko. All these operations occurred while the court seizures were in effect and directly ignored them.

Masking of actual control was ensured through the offshore companies Pilawer Limited, associated with Medvedchuk, and Viemar Holding LTD, associated with Stolar. They were listed as the founders of “Akadem-Club.” The nominal directors — Natalia Velychko and Serhiy Lysenko — handled document signing and the technical support for ownership changes. Economic control, however, did not change.

A separate episode involves the sale of a stake in “Akadem-Club” under a forged power of attorney allegedly notarized by a “Cypriot notary” who does not exist in Cyprus’s registers. Despite the obvious forgery, registration actions were carried out and not challenged, which indicates a conscious acceptance of knowingly invalid documents.

In July of 2024 the assets were again seized and transferred to ARMA’s management in case No. 757/32315/24-k. Yet here, too, prohibitions were not entered into the register on time. Between 19 July and 5 August 2024, “Akadem-Club” again changed owners, and 49% of the stake ended up with Stanislav Lagger — a Swiss citizen connected to Stolar’s offshore structures. The court seizure again did not prevent this.

A similar scheme was implemented with Rabinovich’s assets. After the notification of suspicion for high treason, the seizures were lifted by the Pechersky Court’s decision on the pretext of a prenuptial agreement. Thereafter, the property passed to LLC “Maura” and LLC “Stenton,” whose founder is JSC “FENIX.” According to complaint materials, all these entities are also in Stolar’s sphere of influence and were preparing the assets for development and commercial use.

Special attention is due to the role of the Ministry of Justice under the leadership of Olha Stefanishyna. Having the authority to block registration actions, cancel illegal records, and effectively freeze assets, the Ministry limited itself to selective steps. Some registrations were formally canceled, but without analyzing the entire chain of re-registrations and without identifying the ultimate beneficiaries. As a result, this created only a temporary pause, after which the assets again returned to the control of Stolar’s structures. The Ministry acted not as a terminating body but as an element of balancing — to reduce public pressure without destroying the scheme itself.