Home / Business / Techiia could not explain where Oleg Krot got and where he spent $60 million

Techiia could not explain where Oleg Krot got and where he spent $60 million

Techiia could not explain where Oleg Krot got and where he spent $60 million, supposedly “given to the Armed Forces”

The owners of the holding, Oleg Krot and Yura Lazebnikov, claim that since the beginning of the full-scale invasion, they have spent more than 60 million dollars to help the Armed Forces, but this is not true – the company cannot explain where the founders got such money and where it was spent.

About this writes edition of Forbes in the article “Quiet current. The founders of the TECHIIA IT holding say that they spent more than UAH 2 billion on the army. Is it possible” by Taisa Melnyk.

The author notes that “the foundation does not provide documentary confirmation of such expenses, the holding’s “visible” income is almost equal to the declared amount of assistance.”

If all this were true, then the amount “spent on the Armed Forces” would allow the holding and the Techia Foundation, created by it for the needs of the front, to enter the top five largest fundraisers in Ukraine.

What’s more, “Techia” is supported even by public figures. Yes, the famous Ukrainian singer Dasha Astaf’eva posted on her Instagram a photo with Oleg Krot, where I admired his generosity.

According to Forbes, the Techia Foundation NGO itself, through which entrepreneurs purchase aid for the army, is little known, and its reports on social networks, despite the huge sums, are usually not popular and collect only a few dozen “likes”

The last report from the foundation was published on June 7. At that time, the sum of UAH 620 million or $21.2 million at the NBU exchange rate appeared in it.

According to Forbes, since then, Krot and Lazebnikov had to spend almost another 40 million dollars. Both the Foundation and the publication confirm the figure of 60 million total costs. However, with a clarification – not all 60 million passed through GO. They said that Oleg Krot donated a lot directly, allegedly because “the NGO cannot purchase goods for dual purpose”. At the same time, the press service claims that the Techia Foundation NGO is 99% financed by Oleg Krot and the holding itself.

At the same time, as Forbes writes, “Techia Foundation” does not publish on its website detailed reports on sources of funds and documents confirming expenses.

Reports are usually published in the form of infographics and social media posts. For example, according to the latest report, $21.2 million went to purchase:

  • bulletproof vests for the military – $7.09 million
  • smart optics – for $5.24 million
  • tactical clothing and equipment – for $4.33 million
  • Polish FlyEye reconnaissance drones – $2.33 million
  • tactical first aid kits – $1.54 million

Other items cost less than $500,000: communications equipment, reconnaissance drones, generators, and secure laptops. In addition, the Techia Foundation co-financed lunches for displaced persons, patients of Kyiv hospitals and Teroboronmen.

At the same time, it is difficult to find photos published by NGOs that would confirm the presence of purchased ammunition – often in the media, only so-called “snippers” – photos with text are found.

Only occasionally, as Forbes writes, does the foundation post photos from military service programs on Facebook several times a month.

In the fund itself, when asked by Forbes where almost another 40 million dollars were spent, they answer rather veiledly: “Goods that were needed by the Armed Forces to protect our state.” At the same time, even infographics with “reports” were not published for the entire period.

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