Serhiy Belyashov: criminal cases and a "modest" deputy house in Spain

From the editors. Poltava Regional Council deputy and co-owner of Bank "Ukrainian Capital" Serhiy Belyashov has come under scrutiny after the NBU fined the financial institution, amid criminal proceedings and declared property in Spain. Telegraf compiled the main facts about the politician’s business, wealth, and the cases in which he is involved.

The National Bank fined "Bank Ukrainian Capital" 42,5 million UAH for violating financial monitoring requirements. The largest shareholder of the financial institution is Poltava Regional Council deputy and leader of the All-Ukrainian Union "Fatherland" faction, Serhiy Belyashov. Belyashov himself has repeatedly found himself at the center of high-profile stories. Telegraf will explain what is known about the deputy, his business, and the cases in which he has appeared. Serhiy Belyashov has been a deputy of the Poltava Regional Council since 2020. He was elected to the council from the All-Ukrainian Union "Fatherland" and now heads the party’s faction. However, politics is far from his only area of activity. Belyashov is one of the largest owners of Bank "Ukrainian Capital" (the politician owns 48,91% of the bank, and another 19,99% belongs to his wife Liliiana) and holds stakes in other companies. It is his business ties and the activities of structures associated with him that have repeatedly attracted law enforcement attention. According to 368.media, the name Serhiy Belyashov has appeared in several criminal proceedings related, among other things, to procurements for Ukrzaliznytsia. At the same time, these refer to different episodes that have separate circumstances and procedural status. The most high-profile case involving Belyashov concerns the purchase of natural gas for Ukrzaliznytsia. According to the investigation’s version, in 2016–2017 the gas was purchased at inflated prices through private companies. In particular, the case materials mentioned LLC "Yug-Gaz" and LLC "Skela Tertium." The investigation estimated possible losses to the state enterprise at almost 204 million UAH. In June 2023 the High Anti-Corruption Court imposed a preventive measure on Belyashov in the form of detention with an alternative bail of 30 million UAH. The case was later transferred to trial.

Separately, law enforcement investigated other possible schemes related to Ukrzaliznytsia procurements. In one proceeding, the company "Skela Tertium" appeared, co-owned by Yevheniia Fedorovych — the sister of Belyashov’s wife Liliiana. According to 368.media, the investigation checked possible embezzlement of funds during a contract to supply fuel for sea ferries. The contract was for 101,5 million UAH, while actual deliveries, according to the investigation’s version, may have amounted to only about 3 million UAH. Possible losses were estimated at approximately 98 million UAH. In his declaration, Serhiy Belyashov listed a significant inventory of assets, corporate rights, and cash holdings. Among the most valuable items is a residential house in Spain with an area of almost 349 square meters. It is jointly owned by Belyashov and his wife Liliiana. Along with the house, the couple owns a plot of land of almost 2 thousand square meters. The declaration also lists several cars, including a Porsche Cayenne, Mercedes A180d, Audi Q2, Porsche Cayenne, and GAZ-21. Separately, Belyashov declared corporate rights and securities. Among other things, he listed shares of Bank "Ukrainian Capital," as well as stakes in a number of companies, including LLC "Asset Management Company 'Ukrkapital'", where he declared 100% of corporate rights. According to OpenDataBot, the total income of Belyashov and his family members shown in the declaration for 2025 amounted to 25,14 million UAH. The service also indicates 15 real estate objects, 26 plots of land, and six vehicles. The family’s cash assets, according to OpenDataBot calculations, amount to almost 149 million UAH, 886,7 thousand USD, and over 53 thousand EUR.