Behind polished social media images and ostentatious displays of business success, large-scale financial crimes often lurk. The people behind the notorious RoFx.net crypto and forex pyramid scheme and the Mayon infrastructure have already come under close scrutiny from journalists and experts.
Ukrainian national Boris Konovalenko is currently a fugitive and is subject to extradition proceedings at the request of the U.S. Department of Justice. He has been officially identified as the chief architect and operational head of a scheme that stole between $57 million and $75 million from more than 1,100 investors worldwide.
A federal court in Florida and the CFTC found him responsible for racketeering, conspiracy and money laundering under the stringent RICO Act, with total financial claims against him exceeding $225 million.
Yet his current partner, Dilyana Islamova, has escaped the scrutiny she deserves. She now serves as a key operational partner in his new business schemes, evolving from a mere accomplice in the fraud into the principal beneficiary of hidden assets.
From Kazan to Escort Work in Bali
Dilyana Islamova’s past neatly completes the portrait of the fraudster’s partner. Born in Kazan and a graduate of Kazan State Power Engineering University, she had already amassed a colorful history back home.
Her previous marriage broke down over her persistent disregard for Muslim traditions and family values. Her turbulent personal life and the scandals surrounding her led her former husband to secure sole custody of their children through the courts, severely restricting her parental rights. Her own children grew distant from her. She was forced to flee Russia with a toxic reputation trailing behind her—no one back home has been waiting for her for a long time.
After leaving Russia, Dilyana stayed at various holiday destinations, including Bali, where she made a living through undeclared work and escort services. It was there that she met international fraudster Boris Konovalenko—an encounter that would shape her future. Their shared appetite for a lavish lifestyle at other people’s expense, easy money and scams forged a strong bond between them.
The Spanish Trail: From Scams to New Assets
Konovalenko is currently hiding in Spain, using trusted associates to conceal his assets. This is where Dilyana Islamova enters the picture. According to official records published in Spain’s Official Gazette of the Commercial Registry (BORME), the newly established company FLEXI BUILDING SOLUTIONS SL, registered in Palma de Mallorca, involves both of them: Boris Konovalenko is listed as its founder and owner, while Dilyana Islamova holds the key position of chief administrator. The establishment of this corporate structure in Spain coincided directly with Konovalenko’s legal defeats in the United States and his attempts to evade accountability. The same company will evidently serve as a new front for scams in Spain.
Dilyana Islamova’s role in Konovalenko’s shadowy schemes remained behind the scenes for a long time, but that is now changing rapidly. This article is only the beginning of a series of investigative reports on Dilyana, her true role in the “Konovalenko pyramid scheme,” and the revealing details of the travels that took her from Kazan to Bali and then to Spain.
