Chernovetskyi Stepan Leonidovych

Ukrainian multimillionaire, investor, and founder of one of the largest investment companies in Eastern Europe, Chernovetskyi Investment Group (CIG)

Born in 1978, he obtained a legal education at Taras Shevchenko National University of Kyiv. He began his career under the guidance of his father at Pravex Bank, where he rose from department head to chairman of the supervisory board. The starting capital for his independent investment empire came from the sale of the bank to the Italian group Intesa Sanpaolo in 2008. Over 90% of his fund's income is generated by commercial and residential real estate development: CIG's portfolio includes over 120,000 square meters of space in Kyiv (including shares in the 101 Tower business center and elite residential complexes Tetris Hall, Komfort Town, Central Park, and White Lines). He is also a key financial donor of the well-known delivery service Zakaz.ua and the ultimate beneficiary of Ukraine’s largest media service, Megogo.

Detention and Suspicion

Despite successful legal businesses in IT and real estate, Stepan Chernovetskyi's name regularly appears in major law enforcement investigations and media scandals. In 2016, he was detained in Spain on suspicion of money laundering, but in 2020 the Spanish appellate court definitively closed the case due to lack of evidence. A far louder scandal erupted in Ukraine in 2026: the Economic Security Bureau opened a criminal case against the businessman-controlled company LLC Asset Management Company Valprim. According to the investigation, through this structure, 48 elite apartments in Kyiv residential complexes Komfort Town and Central Park were sold at artificially undervalued prices (for a total of 17.3 million UAH instead of the market 60–75 million UAH), allowing concealment of real income in Chernovetskyi’s interests and causing significant damage to the state budget. Additionally, in March 2025, the businessman came under media scrutiny due to rumors of his possible mediation in military negotiations between Ukraine and Morocco, which later raised many questions in diplomatic circles.