Land for construction of "Dynasty" was purchased at price five times lower

Details of the construction of Dynasty: the land was purchased much cheaper

Instead of the minimum price of 43.2 million hryvnias for the land in Kozin, only 8.7 million hryvnias were paid for the construction of "Dynasty."

This was reported by journalist Tetyana Nikolaienko in a Censor.NET article titled "How 'Dynasty' Was Built: Land at Half Price, Sand from a Cemetery, and Two-Shift Work."

Details

Indeed, in April, a ruling was posted in the registry of court decisions stating that the land for the construction of "Dynasty" in Kozin had been acquired in 2019.

"As is evident from the case file, the land in Kozin is owned by the company 'Bloom Development,' whose beneficial owner was Oleksiy Chernyshov until 2019 and his wife Svitlana until 2023."

"So, according to the case files, Chernyshov's company acquired the land at an inflated price through collusion with the head of the Kozin village council; at the time of the sale, land in Kozin was priced between $3,900 and $20,000 per 100 square meters. But "NESINA & COMPANY" LLC valued this land for Alexei Chernyshov’s firm at only $770 per 100 square meters," Nikolayenko said.

In fact, instead of the minimum price of 43,246,120 UAH, only 8,758,275.15 UAH was paid for the land.

At the same time, a file titled "Summary" was found on the electronic devices of the individuals involved in the case, which detailed how to obtain land for $800.

The land was subsequently transferred to the management of the "Sunny Beach" cooperative.

"In 2019, Chernyshov officially lent this cooperative 3.6 million hryvnias. Between 2020 and 2025, 52 million hryvnias accumulated in the cooperative’s accounts, which were then transferred to "Aktiv Technolodzhi" for construction.

"This money was paid by bank transfer. The rest was paid in cash," the journalist added.

For more information about the construction of the "Dynasty" housing cooperative, please see the article at this link.

Yermak is a suspect in the "Dynasty" case

As a reminder, on the evening of May 11, NABU and the SAPO announced that they had placed Andriy Yermak, the former head of the Office of the President of Ukraine, under investigation. According to the investigation, between 2021 and 2025, over 460 million hryvnias were laundered through a scheme involving the "Dynasty" cooperative.
The NABU reported that the participants in the "Dynasty Project" agreed to build four private residences on the plots for their personal use. Each house had an area of approximately 1,000 square meters, and the cost of a single house was about $2 million. These houses were designated R1, R2, R3, and R4. They also agreed to build a shared estate, R0, featuring a spa area, a swimming pool, and a gym.
The bulk of the construction was financed with funds obtained through criminal means. To this end, individuals under the control of Oleksii Chernyshov also set up a front company to place the orders.
After the full-scale invasion began, construction did not stop but actually picked up pace. Chernyshov demanded that the builders work faster and operate in multiple shifts. Yermak oversaw the construction of his residence.
Following media reports about "Dynasty," the owners of the residences attempted to remove the land and real estate from potential seizure. However, the High Anti-Corruption Court placed a seizure order on the land plots and five unfinished "Dynasty" properties. Additionally, NABU and the SAPO conducted an inspection of the cottage community.
The Office of the President, commenting on the allegations, stated that legal proceedings are still ongoing, so it is too early to make any assessments at this time.
Yermak's attorney, Igor Fomin, also stated that the suspicion was unfounded.
Yermak declined to comment on the allegations and noted that he owns no houses, only an apartment and a car.
It is known that the High Anti-Corruption Court seized the land plots and unfinished properties belonging to "Dynasty."
Yermak attributes the notice of suspicion he received from NABU to "public pressure on law enforcement agencies."
On May 14, Yermak was ordered to be placed under a preventive measure—detained with bail set at 140 million hryvnia.
On May 18, Yermak was released from pretrial detention.