In the exclusive Russian ski resort town of Krasnaya Polyana, a sprawling new development is nearing completion, promising luxury, exclusivity, and heavily fortified security. Nestled against the towering Caucasus Mountains, the site boasts a world-class location: minutes from the venues of the 2014 Winter Olympics, a short drive from the Black Sea and Sochi’s glamorous resort city, and adjacent to one of Europe’s largest forested nature preserves.

While the complex is officially described in planning documents as a “hotel complex,” the scale, scope, and, most notably, the security measures suggest a purpose far beyond that of a typical ski resort. The 10-hectare site is encircled by an anti-ram steel fence and monitored by six guard posts. Advanced security technologies include thermal imaging cameras, a drone-suppression system, and even equipment capable of detecting radioactive materials. Such measures would make the complex one of the most secure private properties in Russia, rivaling even the levels of protection around some national leaders.

The identity of the complex’s intended occupant is shrouded in secrecy. There is no evidence that Russian President Vladimir Putin has any involvement-he once had a residence in nearby Sochi but reportedly ceased visiting due to drone threats. Instead, multiple investigative reports, including new documents obtained by the Belarusian Investigative Center (BIC), point to Belarusian President Alexander Lukashenko.

The investigation by BelPol, a team of former Belarusian law enforcement officers now opposing Lukashenko, alongside Belsat TV journalists, revealed that the land had originally belonged to the Belarusian government. It was transferred to a private Russian company called Komplex-Invest under Lukashenko’s personal directive, and at a price far below market value. Key figures behind the development have close ties to Viktor Sheiman, a longtime Lukashenko ally and regime enforcer often described as his “right-hand man.”

Documents obtained in 2025 reveal the current owner as Aleksandr Romanovsky, a former member of Lukashenko’s personal security service. Funding for the project came via at least $35 million in loans, with $16 million traceable to entities connected to the Belarusian regime. Romanovsky himself contributed nearly $4 million to his company. Other lenders include Sheiman-linked companies: a Cyprus-based firm represented by a former deputy in a prominent government agency, a Belarusian company headed by a senior inspector of a private security firm reportedly under Sheiman’s control, and the largest known lender, a Hong Kong company involved in a scheme to sell contraband Turkish chicken feet in China.

Although there is no direct evidence the property will serve as Lukashenko’s personal residence, the........

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