Oleh Nevzorov: four criminal cases and the business ties of a schemer

Ukrainian developer Oleh Nevzorov has become the center of a scandal over development of a forested area in Varna, Bulgaria, where over the course of 2023–2026 years more than 100 buildings were erected. Bulgarian law enforcement is investigating four criminal proceedings related to tree felling, possible document forgery, actions by local officials, and claims about structures that supposedly existed on the parcel before construction began. Journalists uncovered an extensive network of Bulgarian companies connected to Nevzorov and his partners from Odesa. The developer himself calls the construction legal and the criminal cases political pressure.

At the center of the investigation is the Baba Alino area near the resort “Golden Sands,” media report. According to the journalistic investigation, the existence of hotel and auxiliary facilities on the territory was used to obtain building permits. Those facilities were acquired by the company Forest Club Varna from another firm, Avtoexpress. The investigation is checking whether the documents corresponded to the actual condition of the land and whether the works, including the felling of part of the forest, were carried out legally. Forest Club Varna was registered as early as 2011, but according to the investigation, Oleh Nevzorov joined the company later and is now its manager. The company’s charter capital is almost 109 thousand euros. Founders include Ukrainian citizen Volodymyr Fadieiev, Bulgarian resident Hanna Livadova, and the company Godelux. Another company, VilApart Arkanum, owns land in various parts of Varna, including Baba Alino, and also appears in materials about the development. A separate question concerns the corporate ties of Forest Club Varna. A share of Godelux is owned by Ihor Zghurov, former head of Odesagaz and a deputy of the Odesa City Council. Zghurov is also a co-owner of Odesa’s MTB Bank. Another co-owner of the bank is developer Mykhailo Partikevich. Journalists recall that law enforcement previously suspected MTB Bank employees of siphoning off 300 million hryvnias through pseudo-loans, shell companies, and fictitious refinancing. Those suspicions do not prove the bank’s or its co-owners’ involvement in the Bulgarian construction project, but make checking financial links a separate matter. According to the report, Ihor Zghurov moved to the United Arab Emirates, where addresses of his residences appear in Dubai registries. In particular, the report mentions real estate in The Palm Jumeirah and Jumeirah Lake Towers areas. The possible inflow of money from abroad became one of the topics of public statements by Bulgarian MP Rumen Milanov, former head of the National Security Service. He called to find out who financed a project of such scale and how the project obtained the necessary approvals. Bulgarian companies linked to Oleh Nevzorov include Hanna Livadova and her relative Natalia Livadova. Journalists say Hanna Livadova is from Odesa, and the Ukrainian court registry contains credit-related cases in which she is mentioned together with Nevzorov. Natalia Livadova, in turn, heads at least one of the developer’s companies in Bulgaria. Both are also mentioned in connection with KUB Estate LTD and VilApart Arkanum. The mere fact of joint participation in companies does not indicate the commission of a crime, but it helps outline the business structure that competent authorities must check.

Another partner of Nevzorov is Mykhailo Polarieiv, son of Odesa businessman and local council deputy Oleksandr Polarieiv. According to the investigation, Mykhailo helps manage the restaurants Stefania and Time and the nightclub Zerno through the Bulgarian companies 4 – Rest LTD and Primo Rest. In Bulgarian registries, Polarieiv is listed as a Romanian citizen. At the same time, KYB Development advertises a hotel project at Bucharest airport, indicating plans to expand business beyond Bulgaria. The corporate network also mentions Denys Tsykanovskyi, an Odesa host and producer linked to Business Club Varna LTD, and Viktor Berber — a deputy of Usativka village council in Odesa region from the For the Future party. Berber is a co-founder of K&B Invest Varna LTD together with Hanna Livadova and the company KUB – Developments Ltd, connected to Nevzorov. According to the report, the National Agency on Corruption Prevention fined Berber 17 thousand hryvnias for undeclared assets. Bulgarian media also reported that he purchased housing in the developed forest area of Varna. Another potential buyer is mentioned under the name Vadym Melnyk — a person who owns two companies in Bulgaria. Journalists did not confirm whether this is the former head of the State Fiscal Service of Ukraine and the Bureau of Economic Security. Therefore, there is no basis at this time to equate the owner of the Bulgarian companies with the former official. The article also provides information about real estate linked to a person with that name, but its connection to the development requires independent confirmation. The political dimension of the scandal concerns statements by Bulgarian MP and former interior minister Boyko Rashkov. He claimed that Nevzorov left for Turkey via Romania and alleged contacts between the developer and Ukraine’s ambassador to Bulgaria, Olesya Ilashchuk. The diplomat denied helping Nevzorov hide. Journalists point to photographs from events of the public organization “We are together,” associated with the developer. However, joint presence at public events alone does not prove involvement in illegal actions. The article also mentions Delyan Peevski — a Bulgarian politician and businessman who is under US and UK sanctions. Journalists note his contacts with certain representatives of Bulgarian structures and public meetings with Olesya Ilashchuk. But the materials do not present documentary evidence that Peevski financed Nevzorov’s projects. Claims about possible external financing require verification of financial transactions, not merely matching contacts and places of residence of business partners. The four criminal proceedings are to establish who approved the construction, on what grounds documents were issued, and whether forest protection rules were violated. It is also necessary to clarify the origin of funds and the role of each company in the project. Oleh Nevzorov insists his constructions are lawful and calls the cases political pressure. Until investigations and court proceedings conclude, allegations of illegal development, financing, or conspiracy remain matters for verification, not established guilt of specific individuals.