---
id: 18
name: Serhiy Kurchenko
sanctionsCountry: Ukraine
fullName: Serhiy Vitalyovych Kurchenko
nativeName: Сергій Віталійович Курченко
surname: Kurchenko
firstAndMidleNames: Serhiy Vitalyovych
aliases:
  - Serhiy
  - Serhii
  - Sergij
  - Sergii
  - Sergey Vitalyovych
  - Vitaliyovych
  - Vitalijovich
  - Vitaliiovych  Kurchenko
identifyingInformation: Ukrainian businessman
placeOfBirth: 'Ukraine, Kharkiv oblast, Kharkiv'
dateOfBirth: 21.09.1985
countryOfResidence: Russia
corruptionLink: business
familyMembers:
  - name: Olena Rymarenko
    type: spouse
familyMembersSubjectToSanctions: []
suspectedOrConfirmedOverseasProperties: ''
suspectedOrConfirmedLinksToLegalEntities: >-
  Devora ltd , Jetlit ltd , adform experts inc , Algerna Investment ltd , Anapom
  Business ltd , Aplanor Trading ltd , Arzana Commerce Corp , avenna holding ltd
  , Avilax Commerce Corp , Beltline Holdings inc , Bisba Investments ltd , Biven
  Investments , Butterfield Business Holdings s.a , Carbondale Overseas Group
  ltd , Condicom Participation ltd , downtown management s.a , UO Dulsa Capital
  jsc , Eastern Finance Corp , Ek Multimedia Content ltd , Elseco Trading ltd ,
  empson ltd , Entley Ventures ltd , Ernor Holdings ltd , estrisks services ltd
  , Fieldcress Consulting ltd , Fineberg ltd , fremingham investment corp ,
  Friona Group ltd , Gourami Participation Corp , Graugher ltd , hawkbit
  enterprises ltd , Hensley Capital ltd , Hesperus Enterprises ltd , Hickery
  Holdings ltd , Histrax Holdings ltd , Inse Holding ltd , intinet operations
  ltd , Kenefald ltd , kensigton management inc , ksandro enterprise ltd , Kuser
  Capital Partners ltd , la coruna enterprises ltd , Lake Business ltd , landow
  development ltd , Larkol ltd , Larx Investments ltd , Marienna Commerce ltd ,
  marta ross trading ltd , Melywood Holdings ltd , mh-tv producton limltdited ,
  Moonlight Overseas Holdings , Mourain Business , Neoricaria ltd , niolax
  business inc , nippon trading ltd , novapark technics inc , olviedo
  investments , Oneprime Holding ltd , Paddyfield Investments ltd , Phonrun
  Operation , Piop Services , portrex ltd , Power Enterprises , prosperity
  developments s.a, Qwerty Business inc , Resrex Trans ltd , Richper Capital ltd
  , Rockcress Holdings ltd , Rose Invest Management s.a , Rossseu Business Group
  , Rowen Trade inc , Sharonrich Estate llp , sherell limited , skycone limited
  , Soprema Trading ltd , Starfront Enterprises , Stock Energy Company inc ,
  Stoven Business ltd., s.a , Strafford Shipping ltd, Strex Capital ltd , Subfor
  Management ltd , Sunil Overseas ltd , Swisspro Capital ltd , Tm Service
  Limited , Torcroft ltd , Trejoli Business ltd , Trilado Enterprise inc ,
  Turnox Capital ltd , ubmh broadcast media holdings , UMH Group Public ltd ,
  United Advertising Global ltd , United Media Holding N.V , UOV (United Online
  Ventures ltd) , Vargas Consulting inc , Vegon Enterprises ltd , Vernell
  Capital ltd , Vestorgia Holdings ltd , vetek gas trading and supply sa , Vetek
  Management ltd , Vetek Trade ltd , Vetek Trading ltd, Vetek Trading sa,
  vinaceous holdings ltd, Violanex Group ltd , wells tech ltd, White Springs
  Investment Assets Corp , Whitemont Intertrade ltd , zevidon trading ltd ,
  Sparschwein Gas Handels gmbh , Sparschwein Gas gmbh , Flussiggasvertried GMBH
  Carola Wurzbacher , LPG Trading gmbh, Eelbrus s.a , Katiema Enterprises ltd ,
  Loricom Holding Group , foxtron networks limited , foxtron networks ltd ,
  Wonderbliss Ltd , Sabulong Trading ltd , Kviten Solution ltd , Baleingate
  Finance ltd , akemi management ltd , LLC Syepek , "Sepek" llc ,
  "GasUkraine-2009" llc , Brightmoor Trade AG , ηε 320554 , Vitali Trading ltd ,
  Raytech Commerce ltd , Quickpace ltd , Wellar Investments inc , Opalcore ltd ,
  PJSC "Football Club "Metalist" , LLC "Metalist Football Club" , Stichting
  Depositary Donau Investment Fund , "GasUkraine-2020" llc , ЗАТ
  "ВНЕШТОРГСЕРВІС"ЗАТ "КОМПАНІЯ "ГАЗ-АЛЬЯНС" , LLC "VETEK MEDIA INVEST" , "VETEK
  NEFTEPRODUK" LLC , LLC "Trade House Vetek" , VETEK GAS TRADE HOUSE LLC , LLC
  "Ankona-Torg" , LLC "Amadina" , LLC "Muine" , LLC "Ultrastarinvest" , LLC
  "Aminami" , LLC "Gazneft-Service" , LLC "Inam" , LLC "Alconost" , LLC "Higan"
  , LLC "All-Ukrainian Industrial Union" , PJSC "Odessa Oil Refinery Plant" ,
  JSC "Brokbusinessbank" , LLC "Energy and Gas Ukraine" , LLC "Radio "Trust" ,
  LLC "Kros-Video" , LLC "Step2cross" ,LLC "Vetek Media" , LLC "Digimedia" ,
  Banok Invest and Trade Inc. , Rainbowfield ltd , Bold Finance Holdings AG,
  Bitkeep Development llp , Lexford Systems, Zalika ltd, LLC "Kyiv-Press" , LLC
  Ostro , ТОВ "МЕНКАЛІНАН" , ТОВ"НАФТОРЕСУРС РЕГІОН ТРЕЙДИНГ" , Crumlin
  Corporation s.a,  Private Joint-Stock Company "Our Radio" , Fendvord Project
  llp , LLC "Our Participant" , LLC Tvoya Presa , Closed Joint-Stock Company
  "Top Secret Media", EUROPA REALT CONSULTING LLC , LLC Falanga , Joint-Stock
  Company "At the Steering Wheel", Trafenfor llp, LLC "Ukrainian Media Group" ,
  LLC "Laguna - Reni" , Ebold Finance Holdings AG , LLC "Mirta State" , LLC
  Ukrainian Media Holding , Private Joint Stock Company U.F.C. , LLC "Good
  Product Trade" , Lomond Management ltd, LLC "Mirta Grad" , Farell Marketing
  inc, LLC "Parity Business" , LLC "Metalist - Arena" , Vestar Management s.a,
  Larkin Alliance s.a, LLC "Ankerprom Group" ,  LLC "Promline Union" , LLC MS-1
  , LLC "Perspective Monolit" , State Enterprise "Novyi Obriy" , LLC Metalist
  Holding , Grand&Rend ltd, LLC "Liberty Finance" , Destu Capital llp , Canyon
  Capital inc , Celestia Limited, Fincorp Resources llp , Elaine Group Invest
  ltd, ТОВ "КАЛИНА ЦЕНТР" , ТОВ "ІМПЕРІАЛ-БІЛДІНГ" , Naftoproduct Plus LLC ,
  LYBSTER OVERSEAS LTD , Harin Enterprises Corp., BERWYN ENTERPRISES CORP
  [1](https://pep.org.ua/en/person/15452)
suspectedOrConfirmedLinksToBankAccounts: >-
  $2 million in bank account in Switzerland, Latvian bank accounts.
  [1](https://www.ukrinform.net/rubric-crime/2559708-kurchenkos-property-arrested-in-switzerland.html),
  [2](https://www.occrp.org/en/component/content/article?id=4545:ukraine-kyiv-court-seizes-billionaire-kurchenko-s-14-offshore-accounts)
suspectedOrConfirmedLinksToOtherAssets: ''
estimatesOfAssetsFrozenOrConfiscated: >-
  Assets worth $2 million in Switzerland, 80 million USD held in Latvian bank
  accounts, later seized by the Latvian state.
  [1](https://www.ukrinform.net/rubric-crime/2559708-kurchenkos-property-arrested-in-switzerland.html),
  [2](https://www.occrp.org/en/daily/4545-ukraine-kyiv-court-seizes-billionaire-kurchenko-s-14-offshore-accounts) 
estimatesOfAssetsReturned: None
typeOfSanctions: Asset freeze and prohibition to make funds available
startOfSanctions: 06.03.2014
---
Dubbed as the ‘billionaire from nowhere’, ‘wizard of gas’, or 'Yanukovych's 
wallet', young entrepreneur Kurchenko managed to aquire a fortune in a very 
short amount of time in the gas business. Kurchenko was the head of "The VETEK 
Group of Companies”, which later included the UMH group and which controlled 50 
Ukrainian and Russian internet, radio and media brands. Among them was the 
Ukrainian edition of Forbes until July 2015, when the U.S. government imposed 
sanctions on him and he was no longer allowed to use the Forbes brand. 11 
criminal investigations have been started into Kurchenko’s companies, allegedly 
having stolen around $1 billion from Ukrainian state. He is said to reside in 
Russia, where he has acquired real estate and continues to engage in 
entrepreneurial activity. 
[1](https://www.reuters.com/article/us-russia-capitalism-kurchenko-specialre/special-report-how-a-29-year-old-ukrainian-made-a-killing-on-russian-gas-idUSKBN0JP1KO20141212), 
[2](https://www.thedailybeast.com/sergiy-kurchenko-ukraines-missing-oligarch), 
[3](https://www.kyivpost.com/article/content/business/forbes-takes-further-steps-to-deny-fugitive-kurchenko-foreign-language-publishing-license-395353.html), 
[4](http://euromaidanpress.com/2016/11/02/smuggling-business-donbas-criminal-coal-akhmetov-kurchenko-cigarettes-ukraine-russia/)
