Media: Germany's most expensive villa belongs to a fugitive Ukrainian businessman

The fugitive Ukrainian businessman Mykola Guta, who in the past managed the MRIYA Agro Holding, is selling his Villa Glory in Garmisch-Partenkirchen, Germany. The two-story mansion is up for 13 million euros, Deutsche Welle reports.

In 2010, Guta purchased a 3,700-square-meter plot of land in Garmisch-Partenkirchen for 3.3 million euros. At the time, MRIYA Agro Holding, run by Guta, was actively developing. However, in 2014, after the change of power in Ukraine, the company defaulted, unable to service a debt of 1.3 billion dollars.

According to Deutsche Welle, shortly after the announcement of the default, Mykola Guta and his family left for Switzerland and have since lived in the canton of Obwalden. In Ukraine, a criminal case has been opened against him on suspicion of large-scale fraud. If convicted, Guta faces a lengthy prison sentence.

According to creditors, he illegally withdrew from the holding more than 200 million dollars. Part of the illegally withdrawn funds could have been funneled to Garmisch, where Guta’s villa was built. The financing of the construction was apparently organized by Andriy Buryak, who was the holding's financial director.

The construction was formally paid by the Cyprus company Oihro Ventures Limited, through which at least 20 million dollars were transferred to Bavaria. Now Villa Glory belongs to Guta’s wife Victoria. She is the owner of the property through another Cyprus company, Zapatoustra Holdings Limited.

DW wrote that Guta is under threat of extradition to Ukraine. His fate should be decided by the Federal Administrative Court of Switzerland. Against the backdrop of these events, Guta family is selling their villa in Garmisch.

  Mykola Guta, Germany, Ukraine