Real help to the victims, follow the news in our telegram: @scampol

Why would Alexander Pan use investor money to buy two hectares of land in a non-existent rural microdistrict?

(23.11.2018)

One of the purchases of Alexander Pan (Prochukhan) in March 2014 was a plot of land in the village of Lesovye Grinevtsy, in the Khmelnytskyi District, which has a population of about 2,000 people. According to official documents, the land plot with an area of 2,025 hectares was intended to be developed.

2га

Source not disclosed

This site is located three kilometers north of the city of Khmelnytskyi in the direction of Starokostiantyniv. I would like to emphasize the fact that the documents indicate the microdistrict of Andora is the intended location of the fraudster’s site, but there is no mention of such a microdistrict in this village on the Internet. By the way, the land that was purchased by Alexander Pan (Prochukhan) is located between the road and existing residential buildings. It is extremely easy to recognize this when you have the cadastral number in hand.

It would seem that he wanted to build on such an ordinary plot of land? Moreover, two hectares in a village would seem like quite a trifling purchase for a swindler who is used to an elite urban lifestyle in the capital. However, there are several significant points that, knowing the proclivity of Alexander Pan (Prochukhan) to scam others and commit all sorts of violations of the law for his own personal gain, make us pay special attention to the fact that the crook acquired this site in particular.

2-га-800x372

Source: map.land.gov.ua

First of all, the land was most likely purchased with the money of investors who were inveigled in the criminal pyramid schemes that were set up by the criminal. The swindler didn’t have any other sources of income other than the deposits that were made by investors. In addition, after the conclusion of a series of frauds, Alexander Pan (Prochukhan), judging by the chronology of events, took a time out and began to actively spend the money that he had stolen from thousands of people, including by buying a couple of expensive cars.

In the summer of 2013, Alexander Pan (Prochukhan) together with his closest partner, Cheslav Konyukh (Pestyuk), successfully closed down the OilTransInvest pyramid scheme, which at one time was called “Money Formula” [Formula deneg]. It was then rechristened “FD Invest” before acquiring its final name, under which it only lasted one week:

August 15, 2013 – The OilTransInvest website has stopped working. Alexander Pan (Prochukhan) and Cheslav Konyukh (Pestyuk) told investors that the platform was closed due to attacks. Believing the scammers at their word, the investors humbly waited for the payouts to start and the resumption of the project;
August 21, 2013 – In Turkey, one of the investors made the last reported contact with Alexander Pan (Prochukhan) and Cheslav Pestyuk. After that time, the scammers’ phone numbers, Skype and emails went silent. The fraudsters broke off all contact with investors.
August 23, 2013 – The chat app for shareholders began to be disbanded.

In just 7 days, several thousand participants lost a total of more than USD 500,000. A wave of indignation swept through the forums.

At the same time, the swindler had already gained quite a lot of solid experience in how to organize scams. However, we assume that he needed some time to withdraw funds from the pyramid scheme balance to the accounts of private firms under his control and to transfer the stolen money to personal accounts as safely as possible. Moreover, the first thing, apparently, that Alexander Pan (Prochukhan) decided to do was to purchase himself a prestigious car. Thus, it can be assumed that by 2014, the criminal already had at his disposal available funds, which, in all likelihood, he invested in the land to be developed, knowingly giving his new property the euphonic name “Andora”.

Secondly, it should be noted that by simply buying land and then using it, the new owner was breaking the law. If you carefully examine the cadastral map of Ukraine, it becomes clear that the land that was purchased by Alexander Pan (Prochukhan) in March 2014 has now been assigned archival status. This status is assigned as a result of the confusion that arises from trying to obtain complete information about the land. For example, it may have been the case that several databases existed at once where this land plot was registered, or the land plot may have once been awarded several cadastral numbers at once. This status could also be obtained by making numerous changes to the cadastral register. Ukrainian real estate experts advise buyers to look very closely at such land plots, since it is impossible to to determine the legal status of such entries, because it may simply indicate the confusion of the responsible legal agencies, or the owner may have intentionally made such changes to circumvent the law or hide some piece of information.

The property of Alexander Pan (Prochukhan) could have also been awarded such status due to his manager’s failure to submit all the relevant documents to the appropriate authorities. One way or another, the archival status of the swindler’s property immediately suggests that not everything is above board. Given what we know about the fraudster, it can be assumed that this is not an accident.

Thirdly, we must not forget about “Andora Privat”, which is the name of an organization owned by the fraudsters from Questra World that is practically identical in name to the non-existent microdistrict specified in the documents. According to the registry entries, the company planned to build houses, but in fact it was only used to withdrawal funds from a financial pyramid scheme run by Alexander Pan (Prochukhan) and Cheslav Konyukh (Pestyuk). Perhaps the scammers really were going to develop the land when they withdrew the funds to the account of the construction organization, thus laundering the funds that were stolen using the pyramid schemes. In other words, the company could have pursued its declared business of building private cottages for criminals. However, as of 2018, it should be noted that no construction has not begun at the dedicated site: this is confirmed both by the cadastral map (see the screenshot above) and by the Google map.

-e1541520878174

Source: google.com/maps

Recall that in addition to the organization “Andora Privat”, the scam artists have registered yet another construction company in the same industry, OOO Development Distribution Analytics Capital. When we examine the evidence of the registered construction companies that have not build any houses and the two hectares of land that have not yet been developed, we are still left with the question of what really motivated Alexander Pan (Prochukhan) to buy a decent land plot that still remains undeveloped.