Part of the road from Saky to Yevpatoria goes along the Black Sea. Sand beaches of Western Seashore of Crimea are called golden. Their origin is not volcanic. They were formed by covers of mollusks grinded by the sea.
After the beginning of Russian full scale war against Ukraine, Russian occupants built trenches and shelters in golden sands and all Crimean seashore. They also reserved large part of the seashore for the giant resort complex. It is built by Group of Companies “Monolith” connected with Sergii Aksyonov, Russian “governor” of Crimea.
In accordance with international humanitarian law, such an activity of aggressor state on occupied territories is qualified as war crime. We will name its accomplices.
Sand beach between Saky and Yevpatoria is one of a few places in Crimea, not yet damaged by the Russian “civilization”. Now golden sands are under the direct threat of destruction. Russian occupation authorities announced “the cleaning” of this place this year. The road will be moved away from the sea whereas new resort will be built within 100 m water protection zone along the seashore. It is already called “a piece of Dubai”. “Family resort “Crimean Riviera” will be built near Saky. “Golden Sands” will be placed near Yevpatoria.
We can recall a number of Russian failed projects in occupied Crimea. They promised to build its own Silicon Valley, its own Las Vegas and even spaceport in looted airfield near Bagerove.
This time Russian occupants allocate almost 230 hectares of seashore lands, 22 kilometers long. They are going to build 18 various hotels, yacht marina, health care and balneological institutions, Aqua Park and exhibition center. Its total area is comparable with yacht marina in Balaclava of Rotenberg, Putin’s friend.
Part of the road Saky-Yevpatoria. It will be moved, in order to free seashore for construction. Photo: evpatori.ru
Aksyonov first mentioned new resort in 2022 when he hoped the Russian invasion into Ukraine would be a blitzkrieg. However, occupants had to build trenches and shelters there. Access to beaches was restricted.
Fortifications of Russian occupants along the road Saky-Yevpatoria, 2025. Photo: screenshot of video of GC “Monolith”
Putin saved the project. In May 2024, he signed an order to launch federal project “Fives Seas and Baikal Lake”. It is planned to create new year round resorts at seashores in five Russian regions as well as in occupied Crimea and Zaporizhzhia oblast.
Crimean project “Golden Sands of Russia” became a part of this federal initiative. Main developer, Group of Companies “Monolith”, was selected any competition, i.e. it was appointed by Aksyonov. The reason is that “Monolith” is connected with business interests of Russian “governor”.
Initial amount of private investments, announced by managers of “Monolith”, reached 60 billion Rubles. Russian federal budget should have allocated 13 billion Rubles for removal of roads and construction of water and gas networks.
This summer total value of project “Golden Sands of Russia” almost doubled and reached 120 billion Rubles. Russian developers from Moscow and Saint Petersburg joined the project. Earlier they started building hotels near military shelters. “Monolith” signed agreements with Russian “Sberbank” and VTB about credits for building two resort complexes.
In July 2025, developers involved Russian troops to dismantle railroad going through the area of future resort. This railroad delivered cargo to sanatoriums and military unit in Novofedorivka.
The Center for Journalist Investigations received a video from local inhabitants. It shows how rails are dismantled near resort “Blue Wave” and clinical sanatorium “Poltava-Krym” (stolen from Ukrainian owners in favor of Moscow businessmen).
“Russian troops dismantle railroad along the seashore. It has not been used for a long time. Earlier this railroad delivered cargo to resorts in Yevpatoria and Novofedorivka, up to local airfield”, as local inhabitants told CJI.
Group of Companies “Monolith” and its connection with Aksyonov
The history of Group of Companies “Monolith” started in 2006. Before the Russian occupation of Crimea, it has been middle level business. It owned half completed residential complex at Rostovska street in Simferopol and participated in the construction of two wind electric stations in steppe area of Crimea and a bridge in Alushta.
“Monolith” has been also surrounded by a number of public scandals like public procurement of street repairing works in Simferopol and the use of fictitious cooperatives for the allocation of large land areas for construction purposes.
In 2013, journalists of the CJI within their investigative project “Owners of Crimean Beaches” uncovered one of companies related to “Monolith”. Crimean prosecutors protested in the court against allocation of land plots to LLC “Golden Sands”. It conducted construction works on 15 hectares in the water protection zone, just 70 meters from the sea. This old story has direct connections with current project “Golden Sands of Russia”.
Having established effective corruption connections with local authorities before 2014, “Monolith” registered its clones in the Russian jurisdiction after the Russian occupation of Crimea.
Under the Russian occupation, “Monolith” turned into one of the leading Crimean developers. It has built dozens of residential complexes in various Crimean cities. Its activity sparked a number of public scandals and protests (logging of trees in parks, building of residences “Crimean Rose” on the territory of settlement of Crimean Tatars).
Residential block “Academia” in Simferopol, built despite public protests against logging of green zone, 2024. Photo: zhk-akademiya-krym-i.cian.ru
It is not possible to find full list of participants of “Monolith” on its official website. There is no legal entity with name “Group of Companies “Monolith”, though, there are legal entities with such a name.
The CJI determined three signs for identification of legal entities, related to Group of Companies “Monolith”.
First sign is about founders (direct or indirect) and managers. The majority of companies (in Ukrainian or Russian jurisdictions) have included Ukrainian citizens with Russian passports: Asanov Yakub Rustemovych, Baranov Dmytro Saveliyovych, Iljasov Nazim Osmanovych, Bekirov Rustem Refatovych, Burdeiny Ruslan Borysovych etc.
Founders and managers often move from one to another company. For example, since 2017, Memetova Leila Serverivna has managed three and founded another three companies. Now she is an individual entrepreneur, selling real estate.
Yakub Asanov is the “public face” and key speaker of Group of Companies “Monolith”. He signs agreements as an official representative of the Group.
Co-founder of Group of Companies “Monolith” Yakub Asanov at the signing ceremony with Russian bank VTB on crediting the construction of “Crimean Riviera”, June 20, 2025, Photo: screenshot Youtube РБК ТВ Юг
The second sign for identification of members of the Group is common managing company. As a rule, the Group sets up new legal entity for the construction of each new object (specialized developer). 22 legal entities are united under single umbrella – LLC “Managing Company Project Office” (“UK PO”). Leila Memetova has been founder of this company up to December 2022. Kostyantyn Lukonin replaced her; he has been also founder of four other legal entities.
The third sign is the list of over 20 companies, related to Group of Companies “Monolith” by Russian Single Information System of Residential Construction ДОМ.РФ. This system contains data about all objects of the Group and their developers.
This list includes LLC “Malva com”. It has been developer of residential complex “Rainbow” in Simferopol. Olena Aksyonova, wife of Russian “governor”, has been its direct owner until March 2016. Svitlana Babii, permanent business partner of Aksyonov’s family, has been among its co-founders.
In March 2016, company “BIK Kapital” became new founder of “Malva com”. It is now owned by two physical persons without any business history. It means that real beneficiaries are unknown.
Sergii and Olena Aksyonov. Photo: Telegram channel of Sergii Aksyonov
In 2020, strange story occurred with “Malva com”. While Russian occupation authorities illegally expropriated assets of Ukrainian companies and citizens, Kyiv company LLC “GKM LTD” became the founder of “Malva com”! In its turn, Kyiv company was founded by Denys Popii. For nine years, he has managed company “Yug-Elitstroiinvest” from Group “Monolith”. It means that 99,9% of “Malva com” belong to unknown persons.
The turnover of founders and managers of “Monolith” is endless and meaningless. The problem is that the Russian State Register of Business Entities does not indicate final beneficiaries and their shares. More to that, Federal Taxation Service closed data about founders of some companies (it is the way to avoid international sanctions).
There is another way to hide real investors of any business project in Russia. Since 2022, the Board of Directors of the Central Bank of Russia has issued each year permits not to disclose data about structure and composition of shareholders and their shares in any mutual investment funds.
“Monolith” has its own mutual fund. It is called “Smart Invest-M” (previous name – “Edelveis-Aktiv”). It is managed by LLC “UK KM”, Russian clone of Ukrainian company. In both jurisdictions (Russian and Ukrainian), this “UK KM” has been founded by “Monolith”. In 2015-2024, this mutual fund has been also managed by another closed mutual fund “Invest-M”. It was liquidated on December 28, 2024.
Thus, final beneficiaries of construction objects of “Monolith”, including giant resort project “Golden Sands of Russia”, have been hidden in mutual fund “Smart Invest-M”. It is unclear whether we will be able to disclose them in any foreseeable future.
We may suggest that final beneficiaries include high Russian public officials in Simferopol and Moscow. It is not surprising that “Golden Sands of Russia” quickly received approval and permission to move on without proper environmental expertise. As it happened with construction of the Kerch Bridge and Crimean highway “Tavrida”.
Let us look at those people who will directly implement project “Golden Sands of Russia”. They can be considered as accomplices of war crime.
Hotel complex “Golden Sands”
As it was reported earlier, LLC “Golden Sands” planned to build hotel complex “Golden Sands” before the Russian occupation of Crimea. In 2008, Yevpatoria City Council transferred over 20 hectares of seashore lands into the lease of this company, in order to build resort with an address: Yevpatoria, Simferopolska street.
All seven land plots for lease were located in water protection area of the Black Sea. Crimean prosecutors protested against decision of the city council in the court and required its cancellation. However, the court did not satisfy their claims.
In 2013, journalists of the CJI found out that the construction was going on just 70 meters from the sea.
Construction of complex “Golden Sands”, 2013. Photo: investigator.org.ua
It is remarkable that company “Golden Sands” were co-founded at that time by Volodymyr Maslov and Andrii Vasuta, in accordance with analytical service YouControl. They were known as “business” representatives of Crimean organized crime group “Seilem”. They were business partners of its leader Sergii Voronkov (criminal nickname – Voronok). It should be reminded that Sergii Aksyonov (criminal nickname – “Goblin”) joined this group in 1990s, after his initial organized crime group called “Greeks” was shot.
More details about Volodymyr Maslov and Andrii Vasuta and their support of the Russian war against Ukraine see in our material “Crimean Drones: “Roboavia” in Shoigu’s Technopolis and Flying “Seilem”
Since July 2010, Nasim Iljasov has been the only founder of LLC “Golden Sands” in the Ukrainian State Register of Legal Entities. In Russian jurisdiction, he has been manager or founder of several companies-developers within Group of “Monolith”.
We do not believe that Maslov and Vasuta “offered” company with 21 hectares of Crimean seashore to “no-name guy” Iljasov. By the way, by that time leader of their criminal gang Sergii Voronkov was just released from the prison; he tried to restore his influence and money.
It is very likely that Sergii Aksyonov has maintained close and good relations with Voronkov’s business partners for decades. After the Russian occupation of Crimea, Aksyonov appointed Andrii Vasuta as the director of state owned enterprise “Crimean Sea Ports”. Then, Vasuta was promoted to the position of the Minister of Industry in the Aksyonov’s occupation government (he held this position for four years).
Russian Group of Companies “Monolith” includes LLC “SZ Golden Sands”. But website of the Group indicates other legal entity – LLC “SZ Golden Shore” – as the developer of resort complex “Golden Sands”. It was founded in 2019. It is managed by umbrella “UK PO”. Its founder is Zarema Karakash who has managed or “owned” several other companies of the Group.
Construction of complex “Golden Sands”, Yevpatoria, 2022. Photo: screenshot of video of Group of Companies “Monolith”
It is likely that federal project “Golden Sands of Russia” will involve soon other companies of “Monolith” and its secret final beneficiaries.
Since Spring 2025, there has been new managing company – “UK Kurort Zolotye Peski” [Resort Golden Sands]. It was founded by Yakub Asanov. It is managed by ex-Minister of Resorts and Tourism of occupied Crimea Vadym Volchenko! He was also appointed to the ministerial position by Sergii Aksyonov in 2017. Then, he left the Ministry upon his own will and headed company and project of “Monolith”.
Hotel complex “Crimean Riviera”
Russian occupants plan that hotel complex “Crimean Riviera” near Saky (13 hectares) will be completed in 2028. “Monolith” has specialized developer with the same name. However, as its financial reports demonstrate, this company did not construct anything and it did not have any personnel in 2024.
Since June 2025, “SZ Crimean Riviera” received new founders: joint stock company “Smart Aktiv” (founded in March 2025 and now managed by Dmytro Baranov, co-owner of “Monolith”; shareholders are unknown) and LLC “Semeinye kurorty” [Family Resorts] with statutory capital of 410 million Rubles and legal address in Saky. All registration data about its founders, managers and income are closed by the Russian Federal Taxation Service.
It is not a coincidence that names of joint stock company “Smart Aktiv” and mutual fund “Smart Invest-M” have almost similar names…
Head of occupation city administration of Saky Oleksandr Ovdienko announced that project would be implemented by LLC “Semeinye kurorty”. It would invest 16 billon Rubles.
It is unknown what credits Aksyonov and people from “Monolith” will receive from VTB Bank and “Sberbank” (Yakub Asanov signed respective agreements during Saint Petersburg Forum in June 2025).
The final point is about environmental expertise of the project. Before the Russian occupation, Crimean scholars have bravely opposed plans of corrupted developers to destroy unique golden sands of Western Crimea. They protested even against mega-projects supported by Ukrainian oligarchs and administration of Viktor Yanukovych (see projects of private port of Firtash in Donuzlav Lake and “Chinese” port near Saky).
However, today neither Crimean environmental scholars, nor Crimean media voice their concern about environmental expertise of two construction mega-projects within the natural reserve of the Black Sea.
Scholars of the Institute of Biology of Southern Seas take probes for research, upon the order of a developer from “Monolith”. July 2025. Photo: ibss-ras.ru
In July 2025, the Institute of Biology of Southern Seas (Sevastopol) announced about strange “environmental research” by its scholars “in seashore area near Saky within the substantiation of project “Golden Sands of Russia”.
Representatives of the Institute openly admit that it is pure academic study of flora and fauna. It is aimed “at developing scientific recommendations about protection and sustainable use of natural complexes”. It is not environmental expertise, needed even by the Russian legislation for the launch of similar construction projects.
Who ordered this research? It is LLC “Specialized developer “M-Lit”. For years, it has been “sleeping company” within “Monolith”. “Smart Aktiv” “awakened” it in July 2025 to become another accomplice of Russian war crime in occupied Crimea.
This journalist investigation was conducted and published within the project of the Institute for Development of Regional Press “Urgent Support of Investigative Journalism in Ukraine”, implemented under the assistance of International Media Support (IMS).
Tags: Group of Companies “Monolith”, Yevpatoria, construction on beaches, Golden Sands, Crimea, Crimean Riviera, seashore, Saky, Sergii Aksyonov, Yakub Asanov
