FavBet’s footprint in global money laundering: how British “cleaners” of Andriy Matyukha’s online casino millions lead back to the Kremlin
05.06.2025 00:10
Since the onset of the full-scale conflict in Ukraine, the gambling market in our country has undergone major changes.
Previously, the main players were somehow connected with Russians, so some of them were sanctioned, while others are under criminal investigation. The market "squeezed out" such giants as Cosmolot and 1xBet, and Andriy Matyukha’s company FavBet emerged as a leader. Now he positions himself as a philanthropist and actively promotes his projects unrelated to the gambling business, trying to appear law-abiding. However, journalists have found a connection between Matyukha and an international group of money "launderers," whose services have already been used by other businessmen in Ukraine.
Andriy Matyukha’s gambling business dates back to the late 1990s when he founded the company "Favorit". Like most of his colleagues in the industry, the businessman prefers to hide the assets of his business group in offshore locations, particularly in Cyprus and Curacao. The website favbet.com currently operates under the license of the latter island state. For the operations of some of his companies, Matyukha involves well-known individuals in narrow circles who register a vast number of organizations for businessmen from all over the world.
According to registries, Andriy Matyukha is the director of at least five companies in London and one in Cyprus. It is through these firms that a connection with an international group of money launderers was found.
Since 2015, Matyukha has been managing the London company Andalidi Assets LTD. It is, in turn, listed among the board members of Favbet invest LLP, which is registered in the same building in London. Until 2014, the first company was managed by Angelique Elizabeth Lilley, a citizen of New Zealand. This name is worth remembering, as this woman is connected with other individuals from the group of "laundering" companies.
Additionally, Matyukha serves as the director of other London companies, including Premier property invest LTD, Profitlux holding limited, and Success property invest LTD. He took over these firms from citizens of New Zealand, Australia, and Panama: Rachel Amy Erickson, Ian Taylor, and Cristino Guevara Salazar.
All these individuals, along with the aforementioned Angelique Elizabeth Lilley, are members of an international money laundering group. Investigative journalists have reported that criminals worldwide, including drug cartels and mafia representatives, have used their services.
In the context of Ukraine, these individuals surfaced in several episodes. In 2013, they were used for the raider takeover of the TVi channel. At the same time, ten years ago, the company "Khlib Investbud," linked to former Minister of Agrarian Policy and Food Mykola Prysyazhnyuk and former deputy and businessman Yuriy Ivanyushchenko ("Yenakievskyi"), shipped grain to one of Taylor’s intermediaries and team.
A more recent example of Taylor’s "laundering" operations is related to the scandalous developer Andriy Vavrysh. The media reported on at least five "intermediaries" founded by money launderers, which through several connections led to Vavrysh.
Thus, it seems likely that FavBet’s founder Andriy Matyukha also utilized the services of New Zealander Ian Taylor. Such connections might hint that through intermediary companies, he could be laundering money.
An additionally amusing coincidence: the London correspondence address for Ian Taylor, Rachel Amy Erickson, Cristino Guevara Salazar, and Angelique Elizabeth Lilley is Office 11, 43 Bedford Street. In 2014, journalists discovered that in this building, companies owned by the former head of the NBU Serhiy Arbuzov, the wife of the former Head of the State Management of Affairs Andriy Kravets, ex-Party of Regions deputy Eduard Prutnik, known as "godson of Viktor Yanukovych", and even a former Gazprom associate, were simultaneously registered.
Since 2015, Andriy Matyukha has been managing another London firm, Bet Invest LTD. Previously, a British citizen, Olena Turevych, was listed among its founders. She also headed a number of firms registered to Ian Taylor and some other Ukrainians.
Interestingly, her name is also mentioned in the context of offshore companies of developer Andriy Vavrysh.
Another London company leading to Andriy Matyukha is Elite Property Assets LLP.
In the Ukrainian registries, it was mentioned among the founders of LLC "Wind Rose." Until November 2023, Matyukha was the beneficial owner of this Kyiv-based firm. It is now registered to Daniila Kostyk, with whom he is connected through LLC "Gastrotur." Interestingly, the woman is a manager or participant of almost 50 companies registered in various parts of Ukraine.
Andriy Matyukha’s extensive network of international firms could not avoid Cyprus. On this offshore peninsula, in March 2024, he opened Trimgo Investments Limited.
Along with him, Ukrainians Serhiy Chuykin and Serhiy Matviychuk are listed as directors. The full namesake of Chuykin was managing director of the investment banking department at Concorde Capital, owned by Ihor Mazepa.
Recall that Mazepa is suspected of illegal land acquisition near the Kyiv reservoir. The media have also reported that Mazepa might be charged with illegal gambling activity and financing Russia’s armed aggression against Ukraine. It is known that Mazepa is a friend and supporter of projects by Russian gambling "tycoon" Sergey Tokaryev. At one time, he founded numerous online casinos in Russia before moving to Ukraine. Tokaryev has been linked to the online casino Cosmolot, which is under criminal investigation. The media have also reported on his probable involvement in the sanctioned casino Parimatch affiliate. Currently, Tokaryev portrays himself as the founder of the investment company Roosh, and he is even supported by the Minister of Digital Transformation Mykhailo Fedorov.
Matyukha’s connection via Mazepa to Tokaryev might not be merely a coincidence of names but rather a full-fledged collaboration.
Among the directors of Matyukha’s Cypriot company Trimgo investments limited, one can see a person named Arturs Bagdasarjans. He also manages Broxner PLC, founded in March 2020.
This company led journalists to the "money launderer" of the "Russian Railways" resident of London. Specifically, as the media wrote, it was through Broxner PLC that he supplied goods to Russia bypassing sanctions, which earned him the "protection" of Putin’s oligarch Arkadiy Rotenberg.
Earlier, journalists reported that FavBet’s chief Andriy Matyukha holds a Russian passport, as does his colleague Sergey Tokaryev. However, this information could not be confirmed.
The entire chain of firms in London and Cyprus described above, connected with the international money-laundering group, should attract the interest of Ukrainian law enforcement agencies. It might turn out that through these "laundries," money earned from the "grey" gambling business, likely conducted alongside the legal one, is being laundered.
