The Ghostly Business Empire of Evan Medynsky
By Aylin Kaya
Evan Medynsky has built a reputation as a low-profile figure with an extensive business footprint across Europe, Cyprus, and Hong Kong. On paper, he is a successful businessman with ties to prominent industries. But behind the façade lies a series of dissolved companies, shadowy partnerships, and activities that raise more questions than answers.
Medynsky’s story blends centuries-old noble lineage, Ukraine’s tumultuous political landscape, and the art world, where his father is a celebrated figure. He is a man of many connections—but what does he actually do?
A Mysterious Start
Medynsky’s Italian citizenship is only the beginning of this intriguing puzzle. Despite being a European national, his business interests are deeply rooted in Ukraine, where he controls several companies. According to Ukrainian corporate records, Medynsky owns four construction firms: TOV Mistral Invest, TOV Bik M-Story, TOV Mistral Invest Ukraina, and TOV Felix Laser Plus. But if you try to track their activities, you’ll hit a dead end—no media coverage, no customer reviews, and no digital trace of their existence. The partners and directors involved in these ventures are just as elusive. His business partners – directors and co-owners – are also involved in a series of different Ukrainian companies. However, their traces start and finish in business registries, as none of them has a presence on social media or social networks. The lack of transparency surrounding these operations suggests these companies may exist only on paper.
Crossing Borders—With No Evidence Left Behind
Medynsky’s quiet business empire extends beyond Ukraine. In Russia, he once held stakes in four now-defunct companies: OOO Petrospecstroy Limited, OOO Royal Construction, OOO Stroi-Tekh XXI, and OOO Dami-Esteit. These companies operated in demolition, repair, and real estate—a far cry from the construction work attributed to his Ukrainian businesses. Strangely, there are no records of any significant projects or deals linked to these companies.
Medynsky appears to have severed ties with his Russian ventures by 2007. His partners, much like those in Ukraine, are obscure individuals, leaving no trail to suggest real operations or financial transactions.
Cyprus, Turkey, and the Offshore World
The trail of Medynsky’s business dealings grows more convoluted when you look at his activities in Cyprus and Turkey. In Cyprus, he served as a director for Saxerton, an investment company that officially dissolved in 2014. He also ran Sabezet Management Limited for nearly a decade, from 2007 to 2016. Once again, these companies have left no discernible mark on the industries they were supposedly part of.
In Turkey, Medynsky co-owned Tasfiye Halinde Mrei Danişmanlik Limited Şirketi, a company that specialized in website creation. It too is now dissolved, leaving only scant details about its operations. Much like his ventures elsewhere, Medynsky’s Turkish company seems to have existed more on paper than in practice.
The Medynsky Family Office: A New Chapter
The most significant development in Medynsky’s mysterious business career came in January 2023, when he established the Medynsky Family Offices. These offices claim to operate out of the United Kingdom, Switzerland, Hong Kong, and even Saudi Arabia and the Czech Republic. But verifying these claims has proven difficult.
According to the British corporate registry, Medynsky Family Office UK Ltd was incorporated on January 3, 2023. Its official activities are listed as real estate, head office functions, and public relations. The office has its website, but it offers little in the way of specifics—there are no known clients, projects, employees, or partnerships associated with the company.
Similarly, Medynsky set up Medynsky Family Office Limited in Hong Kong just days later. Like its British counterpart, the Hong Kong office shares its registered address with its secretary, hinting that this might not be a genuine business but a vehicle for other financial activities. Sources close to Medynsky confirmed that, in early 2024, he had been exploring the Swiss private banking sector in an effort to open accounts.
In Switzerland, Medynsky registered Medynsky Family Holding Helvetia AG on the same day as his Hong Kong office. Yet again, there is little to suggest that this entity is involved in any real business.
A Curious Move Into Agriculture
In August 2024, Medynsky branched out into a new industry: agriculture. He incorporated Paleo Capital Ltd in the UK, active in “Activities of agricultural holding companies” with Medynsky Family Office UK Ltd holding significant control over the venture. Medynsky himself was appointed director, despite no prior experience in agriculture.
Ukraine’s agricultural sector is one of the country’s economic powerhouses contributing over 8,5% to the country’s GDP in 2023. It also has become an attractive avenue for illicit financial activities, particularly in the wake of the ongoing war. As billions of dollars flood into the war-torn nation through aid and reconstruction efforts, rumors abound that oligarchs and corrupt officials are siphoning dirty money out of the country—and agriculture, with its sprawling infrastructure and substantial exports, offers an ideal channel for such activities.
Medynsky, with his obscure profile and clean European credentials, may be involved in this machinery. His Ukrainian companies, which officially deal in construction, may be little more than fronts for agricultural barons looking to launder illicit profits from Ukraine’s fertile fields. There are whispers of Medynsky’s ties to influential figures within Ukraine’s agribusiness sector, and his operations may be providing them with a convenient vehicle to funnel vast sums of cash into safer, more stable markets abroad.
Medynsky’s sudden pivot to agriculture—combined with his past ties to Ukraine—raises questions about whether he is acting in Ukraine’s best interests or merely serving as a front for dubious export schemes aimed at siphoning profits from the embattled nation.
A Web of Shadows
Despite the vast network of companies linked to Evan Medynsky, very little is known about his actual business activities. His ventures span multiple industries—construction, real estate, public relations, and agriculture—yet there is no clear evidence of his expertise or involvement in any of these sectors. Many of the individuals he partners with exhibit the traits of nominee directors—individuals who act as stand-ins for real business owners, often to shield them from legal scrutiny. Medynsky’s lack of public presence and the absence of verifiable business dealings raise the possibility that he could be a nominal director, possibly for powerful individuals seeking to conceal their assets.
His low-profile yet extensive business dealings suggest that there may be more to the story than meets the eye. If you have any information about Evan Medynsky or the companies associated with him, please contact us at support@researchinitiative.org. Your input could greatly assist our ongoing investigation, which is far from over.
Our thanks go to the team at https://AssetTracing.com for their assistance in preparing this investigation.