Authorities are investigating a construction fraud in Bucha that collected more than 35 million hryvnias [1] from investors over 12 years.

The case highlights the vulnerability of housing investors in the Kyiv region, where a "building pyramid" left multiple projects unfinished while funds were diverted.

Organizers of the scheme promised completed housing to investors but failed to deliver the properties. The fraud spanned roughly 12 years, ending before the details of the operation surfaced in 2024 [1]. One victim, a woman named Yevheniya, is among those affected by the collapse of the projects.

The investigation focuses on a developer and his 80-year-old mother-in-law, who may face trial for the scheme [1]. The organizers used the investment funds to sustain the pyramid structure rather than completing the construction of the homes in the town outside Kyiv.

Total losses from the scheme exceed 35 million hryvnias [1]. The scale of the fraud indicates a prolonged period of deception where new investor funds were likely used to mask the lack of progress on existing sites, a hallmark of pyramid operations.

Legal proceedings are now centering on the financial trail to determine how the money was spent and who is legally responsible for the missing funds [1].

“A 12-year building pyramid scheme left investors with unfinished homes.”

This case underscores the risks associated with unregulated construction investments in Ukraine. The use of a family member—specifically an elderly relative—as a legal shield or participant in a financial crime is a tactic often used to complicate asset recovery and legal accountability in fraud cases.