Parimatch, IBOX Bank, and the Shil Case: What a Former SBU Official Will Tell Investigators
Artem Shilo, a former official of the Security Service of Ukraine and former adviser to the Office of the President, has entered into a plea agreement with the Specialized Anti-Corruption Prosecutor’s Office (SAPO). In exchange for a reduced sentence, he must provide incriminating testimony against other defendants in the case and disclose the circumstances of a separate crime being investigated by the National Anti-Corruption Bureau of Ukraine (NABU).
His testimony may pertain not only to large-scale procurement fraud at Ukrzaliznytsia but also to other incidents involving the former official. As a reminder, according to official information from the Specialized Anti-Corruption Prosecutor’s Office, Shilo has agreed to provide incriminating testimony against other SBU employees and to describe the circumstances of yet another crime currently under investigation by NABU.
In particular, investigators are examining the circumstances surrounding the imposition of sanctions against the gambling company Parimatch in March 2023. At that time, company representatives alleged pressure from certain SBU employees, blocked payments, influence over banks, and threats of criminal proceedings.
Under the terms of the agreement approved by the High Anti-Corruption Court, Shylo was sentenced to eight years in prison but was released from serving his sentence with a three-year probationary period. He is also required to compensate for the damages caused, pay a fine, and fulfill other financial obligations. The total amount of payments, forfeitures, and contributions stipulated in the agreement is estimated at approximately 670–700 million UAH.
Parimatch: What Sheil’s Testimony Might Reveal
In March 2023, government sanctions were imposed on Parimatch. Even before that, representatives of the gambling industry had publicly claimed to be under pressure from certain SBU employees. The company’s problems began with the blocking of financial transactions, and were later compounded by pressure from banking institutions and threats of criminal investigations.
After the sanctions were imposed, the company lost the ability to operate fully in the Ukrainian market. Investigators are now examining whether these restrictions might have resulted from the company’s refusal to pay unofficial funds to law enforcement officials. This is precisely where Sheil’s testimony could be crucial in determining what happened before the decision on sanctions was made and who might have influenced that process.
If the investigation confirms that sanctions were used for personal enrichment or to exert pressure on businesses, the consequences will extend far beyond a single company. Ukraine is seeking international support for restrictions against Russian businesses and individuals who aid the aggressor. Therefore, any evidence of commercial or corrupt motives in the formulation of sanctions decisions could call into question trust in the entire system.
IBOX Bank: Allegations of Fabricated Cases and Pressure on Businesses
Another high-profile incident involving Artem Shilo is linked to the liquidation of IBOX Bank in 2023. The bank’s owner, Alona Shevtsova, accused a former SBU official of fabricating criminal cases, exerting pressure on the bank, and acting in the interests of competitors.
Alona Shevtsova, owner of IBOX Bank
Recently, the financier revisited this story. On her Facebook page, she published a list of officials she believes were involved in the bank’s liquidation and in exerting pressure on the business. The catalyst was a decision by the High Anti-Corruption Court to confiscate the assets of Oleg Yashchuk, the former head of the BEB’s detective division. Following this, Alona Shevtsova began writing in her personal diary titled “P-2023” (the year her bank was taken away and a fabricated criminal case was initiated against her).
Artem Shilo was one of the first names added to the list. Alona Shevtsova stated that she has no intention of forgetting those who, in her view, made decisions regarding IBOX Bank, initiated criminal proceedings, and used their official positions to exert pressure. “I want each of these questions to be answered—not on social media, but through an independent investigation and a fair trial,” the bank’s owner wrote. She also emphasized that she will seek a judicial investigation into Shilo’s activities.
The materials on Shil’s activities also mention the gambling business 1XBET (a Russian casino), which entered the Ukrainian market in 2022—specifically at the very beginning of 2022—through “Your Betting Company” LLC. The aggressor country’s business was advised and supported by law firms affiliated with Artem Shil. Separately, the investigation examined the origin of his assets, possible mechanisms for laundering illicit proceeds, and determined that some of the funds were channeled through a network of 365 Studio beauty salons owned by Shil’s wife, Irina (the couple is now divorced, likely in a sham divorce). According to the investigation, approximately 18 million hryvnias were laundered through these establishments under the guise of cash revenue. In total, the illicit income linked to the former official’s activities was estimated at more than 175 million hryvnias.
A Deal Worth Hundreds of Millions and Testimony Against Other Defendants
The financial portion of Shil’s agreement involves significant payments and expenses. This includes a 204 million hryvnia fine, to be paid in quarterly installments of 51 million hryvnia each, special forfeiture of funds and three apartments in the “Novopecherski Lypky” residential complex with a total value of 325.7 million hryvnias, as well as compensation of 60 million hryvnias in damages to “Ukrzaliznytsia.” He also pledged to transfer an additional 80 million hryvnias to support the Armed Forces of Ukraine through the “Come Back Alive” fund.
In addition to financial penalties, Shilo must provide incriminating testimony regarding other SBU employees and high-ranking officials, as well as provide information about another crime currently under investigation by NABU. The specifics of Shilo’s testimony are not being disclosed at this time due to the confidentiality of the pre-trial investigation.
How the scheme operated in “Ukrzaliznytsia” procurement
The main criminal case in which Shilo pleaded guilty concerns the embezzlement of Ukrzaliznytsia funds during procurement. According to investigators, the group’s members organized a scheme using a so-called “back office,” which helped launder money and legalize illicit proceeds.
One of the incidents involved the procurement of power transformers. The losses from this incident were estimated at approximately 95 million hryvnias. According to the prosecution’s case, when Ukrainian suppliers submitted cheaper bids in the tender, letters were received from the Security Service of Ukraine (SBU) alleging a threat to national security and possible ties between the companies and Russia. As a result, the more favorable bids were rejected, and another firm was awarded the contract. According to the investigation, the equipment was purchased in Uzbekistan through a Bulgarian intermediary company and then resold to the railway at a significantly higher price.
The second episode concerned the procurement of cable and wire products. The investigation estimated the losses at over 140 million hryvnias and claimed that members of the group received approximately 7% of the value of each signed contract. According to law enforcement, Shilo provided muscle and eliminated competitors, People’s Deputy Viktor Bondar provided political support, and businessman Volodymyr Kotlyar was responsible for the network of companies and the distribution of funds.
From the SBU to a plea deal: a chronology of the case
Artem Shilo began working for the SBU in 2012. He initially served in the Kharkiv Regional Directorate and later transferred to Kyiv, where he worked in the field of combating cybercrime. In 2021, he left the service and became a freelance advisor to the Office of the President. During this period, his name was linked to informal influence over state-owned enterprises, in particular Ukrzaliznytsia. According to information from the materials provided, people from his inner circle were appointed to leadership positions in the railway’s security division at that time.
In the summer of 2022, Shilo returned to the SBU at the invitation of Vasyl Malyuk and headed Main Directorate “I.” The unit dealt with issues related to the protection of critical infrastructure. As part of this work, the official had access to areas related to the fuel and energy sector, defense technologies, and cryptoassets.
In March 2024, the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) announced the exposure of a corruption scheme involving the procurement of power transformers for Ukrzaliznytsia. In April of that same year, Shilo was detained. At the time, he denied any involvement in the crimes but was later released on bail of 30 million hryvnias. Law enforcement subsequently investigated other procurement incidents, the activities of the back office, and possible money-laundering schemes. In September 2026, it became known that Shil and another defendant intended to enter into plea agreements with investigators.
In early October 2026, the High Anti-Corruption Court approved a plea agreement with real estate agent Oleksandr Liskovatskyi, who was accused of aiding in the laundering of criminally obtained funds. The court has now also approved a plea agreement with Shil. Thus, the case involving procurement fraud at “Ukrzaliznytsia” is entering a new phase: some of the defendants are pleading guilty and reaching agreements with investigators, and the testimony they provide may form the basis for further investigation.
