MP Yaroslav Zheleznyak stated that in the case surrounding German Galushenko and associated persons, a multi-level offshore scheme was used to legalize funds. It involves a structure with several jurisdictions, which complicates the tracking and confiscation of money.
Galushenko's Offshore Scheme: Anguilla and Investment Funds
According to Zheleznyak, a key element was the registration of an investment fund on the island of Anguilla in the Caribbean. This is a British jurisdiction where the creation of funds is common practice.
The scheme looked like this:
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cash was converted into cryptocurrency;
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through the fund, the money was treated as investments;
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then the money was transferred to Swiss banks.
Outwardly, it looked like legal investment activity. The funds were used to purchase real estate, pay for education, and make deposits.
Legalization of Funds through the Marshall Islands and Nevis
To hide the beneficiaries, a company was created under the fund in the Marshall Islands. This jurisdiction is known for its lack of open registers of directors and the difficulty of accessing information.
An additional layer of protection was a trust in Nevis. According to the MP, this territory does not recognize foreign court decisions and establishes financial barriers for filing lawsuits.
Among the features of such a structure:
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difficulty in identifying ultimate owners
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minimal possibilities for international confiscation;
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the ability for quick re-registration of assets.
Zheleznyak claims that the scheme cost hundreds of thousands of dollars annually for maintenance, but ensured maximum confidentiality.
According to him, the offshore structure was uncovered not due to a leak of documents, but thanks to surveillance and investigation materials. An investigation is currently underway, during which NABU and SAP are determining who else might have used similar funds.
Recall that German Galushenko was detained at the border on February 15, 2026.