Krippa’s Investment Fund Under Investigation in $31.5 Million Ukrainian Money Laundering Case

A Ukrainian investment company officially owned by businessman Maksym Krippa — Delta Invest Proekt, corporate code 38347339 (a unique identifier similar to a tax ID) — has become a key figure in a high-profile criminal case involving the laundering of illegally obtained funds.

The criminal proceeding, registered under Case No. 12015100060000632, is being handled by the National Police of Ukraine with oversight from the Office of the Prosecutor General. The charges span multiple articles of Ukraine’s Criminal Code, including the creation of a criminal organization, tax evasion, and the laundering of criminal proceeds.

According to investigators, between 2014 and 2021, a coordinated group of individuals established a network of fake or inactive companies to simulate financial transactions and conceal the illicit origin of money. Delta Invest Proekt was allegedly used as an intermediary company — a “shell” — through which funds were laundered under the guise of legitimate investment activity.

Authorities estimate that more than 860 million Ukrainian hryvnias — equivalent to approximately $31.5 million USD at the 2021 exchange rate, when the alleged crimes ended — were funneled through this network. The investigation reveals a well-structured criminal scheme with internal hierarchies, assigned roles, encrypted communications, and cash withdrawals via accounts held at major Ukrainian banks, including PrivatBank, TASCOMBANK, and Bank Unison.

While shell companies and “conversion centers” are a common tool for financial fraud in Ukraine, the use of an investment fund as a laundering vehicle is relatively rare. By operating under the appearance of legitimate financial services, this approach made the scheme more difficult to detect.

Who is Maksym Krippa?

Maksym Krippa is a low-profile but influential Ukrainian businessman who has been repeatedly linked in the media to controversial sectors such as online gambling, adult-oriented dating platforms, and digital marketing. Although he rarely appears publicly or gives interviews, his name has surfaced in a series of high-stakes real estate and infrastructure deals.

After Russia launched its full-scale invasion of Ukraine in 2022, Krippa made several landmark acquisitions in Kyiv, including: Hotel Ukraina, a historic property overlooking Maidan Square; Dnipro Hotel, a former government-owned facility; the International Exhibition Center, Ukraine’s largest venue for trade fairs and political events; and the Parus Business Center, a prominent high-rise office tower.

These transactions attracted public scrutiny due to both their scale and timing, as well as Krippa’s alleged connections to opaque financial flows and legal gray zones. Although his name is frequently mentioned in the context of capital legalization schemes, Krippa himself has not been formally charged in any of these cases.