From being held in pre-trial detention to taking part in governmental projects: the relatives of fraudster Oleksandr Katsuba transferred embezzled millions to offshore accounts and continued their business activities

From being held in pre-trial detention to taking part in governmental projects: the relatives of fraudster Oleksandr Katsuba transferred embezzled millions to offshore accounts and continued their business activities

The scheme to purchase drilling rigs for "Chornomornaftogaz" in 2011–2013 remains one of the most infamous corruption scandals in Ukraine’s energy sector. The state overpaid at least $150 million through a web of offshore firms and intermediaries.

At the heart of the deal were the Katsuba brothers, Serhiy and Oleksandr, who at the time had control over Naftogaz’s financial flows and operated through affiliated companies. Both are linked to the inner circles of Yuriy Boyko and Dmytro Firtash.

Oleksandr Katsuba, serving then as Deputy Chairman of Naftogaz, was directly involved in managing the finances and siphoning off funds. In 2017, he admitted guilt, struck a plea deal, spent 8 months in pre-trial detention, and was released under the "Savchenko law." Due to the seriousness of the offense, his conviction was not expunged.

After a fictitious divorce from his wife, Tetyana Huzenko, key assets were re-registered in her name. According to the Pandora Papers, through the offshore GIL Gold Investment LTD, the family retained control over a number of companies: "Nadra-Geoinvest," "Stratum Ukraine," "AlfaGaz," and "I.B.K. Development."

Despite the criminal past, companies associated with the Katsuba family still participate in state projects, including involvement in the reconstruction of Kyiv and Kharkiv regions. The family also extracts minerals in the border areas of the Kharkiv region through the Novoselivskyi Mining and Processing Plant.