In the center of Dnipro they failed to sell land to the company through which 136 million UAH was illegally taken from PrivatBank

Arbitration manager Vyacheslav Savchenko again failed to sell 6 plots in the coveted part of the city of Dnipro — on the embankment near the Festivalnyi residential complex. They have belonged to the insurance company Ingosstrakh of Hennadiy Boholyubov since 2025, which went bankrupt. In 2016 an unlawful transfer of 136,89 million UAH was made from PrivatBank to this company, leading NABU and SAP to suspect top bank managers Oleksandr Dubilet, Volodymyr Yatsenko, and Olena Bychykhina.

On 6 October the scheduled auction to sell 6 land plots in Dnipro near the Festivalnyi residential complex on the city center embankment did not take place. The total area is 0,3902 ha (39 "sotok"). This time they tried to sell them for more than 53,6 million UAH (1,19 million dollars). No buyers were found.

Last time in September they asked for more than 67,04 million UAH, but there were no willing buyers either. Overall, arbitration manager Vyacheslav Savchenko has been trying to sell this land since June 2026 as part of the bankruptcy of PrJSC Insurance Company Ingosstrakh: all the assets of the Dnipro insurance company are up for sale to partially repay its debts to creditors. In June 6 plots were put up for sale separately, and their combined price exceeded 111,73 million UAH. Later the price had to be reduced by more than half due to a lack of buyers. Accordingly, the next auction price will be even lower.

Which plots are we talking about

They are located at Kolodyazna Street, 18 and Strukivskyi Descent (formerly Urytskoho), 4,5,6,8. According to the cadastral map, these plots partially contain the Festivalnyi residential complex (although mostly on municipal land). Their numbers are:

1210100000:03:328:0155;

1210100000:03:328:0029;

1210100000:03:328:0021;

1210100000:03:328:0182;

1210100000:03:328:0201;

1210100000:03:328:0183

Initially 7 plots were put up for sale. One of them (1210100000:03:328:0030) with an area of 0,026 ha (or 2,6 "sotok") Savchenko sold in July at an abnormally low price of 254 000 UAH (compared to neighboring valuations by tens of millions). The buyer was Andrii Bubelo from Vinnytsia.

In 2021 all these 7 plots in the city center were sold by state-owned PrivatBank for 8 million 826,9 thousand UAH (or 327 thousand dollars). The land was mortgaged to the bank. According to the Telegram channel "Nerukhomist INFO", it was then bought by the company LLC Tsukorprom, which belongs to the orbit of former PrivatBank owners Boholyubov and Kolomoiskyi.

Later the land was resold to LLC Rial-State. And in May 2025 the land was purchased by PrJSC IC Ingosstrakh for 111 million 987,8 thousand UAH; the main beneficiary is Hennadiy Boholyubov (31,4%). The deal was executed by notary Vitalii Verba.

There are already elite residential complexes in this area (Festivalnyi, MAYAK, Imperial-Palace, Amphitheatre, L'Etoile, Belveder, Amsterdam, Vezhi (or Towers), Nebo, Nebos'hill, Novodvorianskyi RC). Several more could appear on the plots between Festivalnyi and Lyvarna Street.

What is known about Ingosstrakh

As Informator previously wrote, among the actual owners of Ingosstrakh were former PrivatBank CEO Oleksandr Dubilet (12%), his deputies Volodymyr Yatsenko (9,34%) and Liudmyla Shmalchenko (5,34%), and their former colleagues. The shares were registered to trustees. This is evident from correspondence published by prosecutors between Volodymyr Yatsenko and Olena Bychykhina (who until 2026 served as deputy general director of Ingosstrakh and until the end of 2016 was one of PrivatBank’s officials). Yatsenko previously exercised operational control over the insurance company.

According to the analytics platform YouControl, the insurance company Ingosstrakh was founded in Dnipro in 2004. It was a partner of PrivatBank and was controlled by its management (when the bank’s owners were Ihor Kolomoyskyi and Hennadiy Boholyubov). From 2016 the insurance company was headed by Petro Klymenko, a former PrivatBank manager who appeared as director or co-owner of numerous firms connected to Kolomoyskyi and Boholyubov.

On 17 December 2016, a day before PrivatBank’s nationalization, 136,89 million UAH were unjustifiably transferred from its accounts to Ingosstrakh’s account. This fact became an episode in the criminal case against Oleksandr Dubilet, Volodymyr Yatsenko, and Olena Bychykhina for misappropriation of PrivatBank’s funds, investigated by NABU and SAP.

Although in 2021 the insurance company returned the money to PrivatBank without any legal basis, this did not affect the closing of the criminal case or remove money-laundering accusations. The case defendants have long been abroad: Oleksandr Dubilet — in Israel; Volodymyr Yatsenko — likely in Austria. Olena Bychykhina spent some time in Turkey. And despite nearly 10 years having passed, they still have not been held accountable.

In 2023 the NBU revoked Ingosstrakh’s insurance license due to an inappropriate ownership structure. Nevertheless, the firm continued to receive funds and invest them in real estate at inflated prices. In 2025 the company Ingosstrakh purchased in Dnipro:

the Officers' House (also the "English House" on Voskresenska Street) for nearly 112 million UAH,

7 plots adjacent to and partially under the Festivalnyi residential complex for over 111 million UAH,

the unfinished and abandoned residential complex "Pory Roku" (degree of completion 5%) on Heroiv Krut Street in Dnipro for nearly 112 million UAH.

At the same time, Ingosstrakh could not pay for the English House and remained indebted to the previous owner — LLC Barelief-Dnipro — for 90 million UAH. Because of this the company initiated Ingosstrakh’s bankruptcy proceedings. Informator suggested that Ingosstrakh may have been artificially driven into bankruptcy by such overpriced purchases. In that way funds could be legally extracted from the company and their confiscation by the state in favor of PrivatBank prevented.

On 5 April 2026 the Commercial Court of Dnipropetrovsk region judge Anastasiia Soloviova declared PrJSC IC Ingosstrakh bankrupt; the liquidation procedure will continue until April 2027. Its assets are being sold at auctions to partially settle debts. And the company LLC Kamianske-Estate, which was supposed to return Ingosstrakh 36,7 million UAH, refused to do so because sanctions by the National Security and Defense Council of Ukraine have been imposed on Ingosstrakh’s main beneficiary Hennadiy Boholyubov.

Since May 2026, after Petro Klymenko was dismissed, arbitration manager Vyacheslav Savchenko has been handling Ingosstrakh’s liquidation. Recently he tried to sell the unfinished Pory Roku complex for 80 million UAH. For land rent under that complex, Ingosstrakh had owed the Dnipro city council 814,5 thousand UAH since 2025 during Klymenko’s tenure, which it now is unlikely to pay.

Many more interesting news items ahead

The case about the transfer of 136,89 million UAH from PrivatBank to PrJSC IC Ingosstrakh before the bank’s nationalization is only part of the puzzle of a large number of transactions through which billions of dollars were illegally taken out of the bank over the years. The extraction of funds by Kolomoyskyi, Boholyubov, and their top management led to the bank being declared insolvent in December 2016 and its nationalization by the state. The Ministry of Finance of Ukraine had to inject more than 155,4 billion UAH (over 5,75 billion dollars) from the budget to save the country’s largest bank.

Some of the schemes for siphoning funds are described in the case in the High Court of London, which established how Kolomoyskyi and Boholyubov over 2013–2016 years appropriated more than 1,9 billion dollars of PrivatBank’s funds for their own benefit. This was done by extending loans to companies under their control.

A year ago the British court ruled that the two Ukrainian billionaires Kolomoyskyi and Boholyubov must pay the bank 3 billion dollars, but they have not done so. And the loans were approved, among others, by the above-mentioned former PrivatBank CEO Oleksandr Dubilet, his deputies Tymur Novikov, Volodymyr Yatsenko, Tetiana Hurieva, and others. PrivatBank could have partially recovered Boholyubov’s share through Ingosstrakh’s assets, but after the bankruptcy that possibility is in doubt.