Behind the construction corporation KUB (KYB Corporation), which is building large-scale projects in the area of \u200b\u200b“Baba Alino“ near Varna, stands the Ukrainian entrepreneur and investor Oleg Nevzorov, who is said to be the founder and main owner of the holding.
The company is from the city of Odessa, Ukraine, where it ranks among the three largest construction companies in the region, before redirecting large-scale capital and activity to the Bulgarian Black Sea Coast.
According to the company's official data, its management team consists of: Oleg Nevzorov - founder and owner, Mikhail Partikevych - co-founder of “KUB“ and executive director of the related “Riviera Development Group“, Andrey Nikonenok – executive director of the corporation.
The institutions identified 104 illegal buildings on an area of 100 acres of forest areas next to the “Golden Sands“ nature park, built entirely without construction documents and permits.
During a joint operation by the Ministry of Interior and the Municipality of Varna, construction in the “Baba Alino“ area was permanently stopped, access to equipment was blocked, and 29 workers were detained on site.
In official addresses, Oleg Nevzorov defines the accusations as a “political campaign“ and “hate speech“, claiming that the company invests legally and long-term in the region.
Nevzorov has been developing construction and investment business in Eastern Europe for over two decades, mainly in the Odessa region. He claims that after the outbreak of the war in Ukraine he moved his activities to Bulgaria. In an interview with the newspaper “Capital“ Nevzorov stated that he and his partners generated legal and sufficiently high income in Ukraine, which they now invest as their own funds on the Bulgarian Black Sea coast.
It is claimed that his holding operates and implements projects in Romania, Bulgaria, Ukraine, Montenegro and Greece. The investigative website BIRD.BG and media publications reveal serious question marks over the legality of the capital and its stay in Bulgaria: SANS has been developing Nevzorov to launder millions in cash invested in real estate in Varna.
The investigations show that KUB companies build and sell properties to Ukrainian citizens at prices two to three times below market prices. Immediately afterwards, some of these properties are resold at real market value to citizens of Israel.
According to financial security experts, this is a clear indicator of the legalization of capital of unknown origin. Senior officials from the Ukrainian Ministry of Internal Affairs have also been identified among the buyers. The reports of the Bulgarian services contain data on potential connections of the businessman and his partners with Russian intelligence.
An unprecedented legal case unfolded around Oleg Nevzorov's stay in Bulgaria.
In July 2025, the acting chairman of the State Security Agency Denyo Denev signed orders to impose a Coercive Administrative Measure (CAM) - a 10-year ban on entering the country on Oleg Nevzorov and his Georgian partner Johnny Chitadze on the grounds that they are dangerous to national security. Just two weeks later, the same head of the State Security Agency mysteriously canceled his own order against Nevzorov. However, the Refugee Agency revoked his temporary protection at the end of the same month. Observers note that the 40-year-old Nevzorov is subject to military mobilization in Ukraine, but instead resides in our country.