How the scheme worked and why the companies were re-registered to a Tajik. So, TEP Capital.
Tender. Photo collage by "Telegraph"
A company founded by former Justice Ministry employee Serhiy Pavlenko received approximately half a billion hryvnias in government contracts. When its activities came to the attention of the Bureau of Economic Security (BEB), the firm was renamed, "moved" to Zaporizhzhia, and transferred to a Tajik citizen, who is also the registered owner of hundreds of Ukrainian companies.
But the tender business didn't end there: prior to this, Pavlenko had created a company with almost the same name, which has already won contracts worth approximately UAH 940 million. Read more about how this scheme works in Telegraf's article.
The main thing:
- Former Justice Ministry employee Serhiy Pavlenko and former National Police investigator Vitaliy Sheverun created a network of contracting firms (including TEP-Capital and TEP Capital), which over several years won government tenders worth over UAH 1,4 billion.
- At least 195 million hryvnias were transferred to the accounts of related companies Building Set and Building Set Trade, which had minimal staff and shared IP addresses with the contractor for tax reporting, the Bureau of Economic Security (BEB) established.
- Law enforcement officials are investigating the misappropriation of funds from repairs (including shelters). When the Bureau of Economic Security (BEB) became interested in the companies, they were transferred en masse to front men—foreigners and Ukrainians—with hundreds of other companies in their ranks.
- The organizers created a new legal entity with a nearly identical name (without the period or hyphen), which operated in parallel with the old one for a while. They retained the old network of addresses, warehouses, and contacts to continue participating in tenders. They continue to win contracts worth hundreds of millions of hryvnias.
TEP Capital: How 200 Turns into Half a Billion
It all started small: in September 2022, TEP-Capital LLC was registered by Ministry of Justice employee Serhiy Pavlenko. In June 2025, he transferred the company's ownership to Vitaliy Sheverun, a former senior investigator at the National Police in Kyiv Oblast (until 2019). The company received its first tender for 200 hryvnias in early 2023 from Primary Health Care Center No. 1—without the use of an electronic bidding system or tenders.
A few months later, this contract was used to validate its experience in an open tender, after which the company quickly won a 490,6 million UAH order from Ukrposhta and the Holosiivka and Svyatoshinsky district state administrations.
To confirm its experience, TEP-Capital LLC used an agreement with Primary Health Care Center No. 1.
Due to certain tenders, the LLC is involved in criminal proceedings: for example, case 12025100070001447 is investigating the embezzlement of funds from a basement renovation project for a basic shelter, costing 1,9 million hryvnias. The company failed to complete part of the project, despite receiving the funds.
Who stands next to Pavlenko?
TEP-Capital opened an office in Kyiv at 5B Yaltinskaya Street, a large registration site for 977 companies, and leased a warehouse from Yulia Olegovna Sheverun, the wife of Vitaly Sheverun.
The main actors in the investigation are Serhiy Pavlenko, Vitaliy Sheverun (owner of the companies Building Set and Building Set Trade), and Karimi's "nominee," Asolat Ismatzoda. The total value of the tenders won by Pavlenko and Sheverun's companies is 1,4 billion hryvnias.
Warehouse lease agreement, 2022. Tenant: TEP-Kapital LLC.
Warehouse lease agreement, 2025. Tenant: TEP Capital LLC
TEP Capital rented its office from the already familiar company Building Set.
Office lease agreement for Building Set. Tenant: TEP Capital LLC
TEP Capital. What did the BEB find?
The company's activities are being investigated by the capital's Bureau of Economic Security. During a search of one of the premises, law enforcement officers discovered 24 seals, including those of Building Set and Building Set Trade.
TEP-Capital LLC transferred tens of millions of hryvnias to the accounts of these related entities: UAH 129,1 million to Building Set LLC (a company with two employees, which tax authorities consider a risky taxpayer) and UAH 66,5 million to Building Set Trade LLC (with one employee).
In total, approximately 195 million hryvnias were transferred to the accounts of related companies. The case materials note that TEP-Kepital LLC, Building Set, and Building Set Trade used shared IP addresses to submit their reports.
How to Win Tenders / Telegraph Infographics
The company is being buried
When problems with the Bank of Economic Security and lawsuits against partners like Oxy Bank and Ukrposhta arose, the company was effectively abandoned. In April 2026, TEP-Capital was renamed Promilex, the company moved to Zaporizhzhia, and the new owner and director was Tajik citizen Karimi Asolat Ismatzoda, who has already registered 236 companies in Ukraine.
In a similar vein, Building Set was also re-registered to Ismatzoda in April 2026, and Building Set Trade was re-registered in March 2026 to 27-year-old Andrey Sosonny, who is the owner of more than 500 companies across the country.
TEP Capital. But the business has already been reborn.
Even before Vitaly Sheverun finally transferred the old company to the Tajik, the partners created a new structure without a period or hyphen in the name—TEP Capital LLC, registered in March 2025.
For some time, the two firms operated in parallel, with the new firm also renting a warehouse from Yulia Sheverun under an identical contract and an office from Building Set. Within a year and a half, the firm again won tenders worth UAH 940 million, using the same connections and offices to avoid liability for unfulfilled contracts.
Who continues to give hundreds of millions
The new company, Tep Capital, received the largest amount of funding from the Education Department of the Solomyansky District Council of Kyiv – UAH 464,7 million. Specifically, UAH 240 million was allocated for the reconstruction of the gymnasium at 27 General Tupikova Street into a kindergarten.
The publication "Nashi Groshi" found that the prices in the estimate were doubled: for example, aluminum composite panels were priced at 3 hryvnias per square meter, while the market price at Epicenter was 1,3 hryvnias. The contract was signed by Viktor Uzhytskyi, the former head of the Solomyansky District Council's education department, who was dismissed in March 2026 following a procurement audit.
Agreement between Tep Capital LLC and the Education Department of the Solomensky District Council of Kyiv
However, it's entirely possible that Pavlenko and Sheverun reinvented their companies under new names, but with the same offices and warehouses, with the sole purpose of avoiding excessive scrutiny from law enforcement and absolving themselves of liability for unfulfilled contractual terms. Meanwhile, old clients, such as Ukrposhta, are forced to sue a company now officially owned by a Tajik. And the Tajik citizen clearly has no intention of complying with the Ukrainian court's ruling.
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The main question now isn't just what happened to the old TEP-Capital. Much more interesting is how, after the criminal investigation began, people from the same circle, using the same warehouses, addresses, and contractors, were able to create a company with a nearly identical name and secure nearly a billion hryvnias in government contracts.
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