Igor Mazepa and Boris Lozhkin: a duet of corrupt officials and scammers
Igor Mazepa has over twenty years of experience in banking in Ukraine. He was the founder of Concorde Capital in 2004. Concorde Capital has always been listed as one of the Ukraine’s leading investment banks.
At that time, Concorde Capital attracted over 2.5 billion dollars in investment for companies in Ukraine. This was in the fields of auto manufacturing, oil and gas, metallurgy, pharmaceuticals and real estate.
He got his law and economics degrees from the Kyiv National Economic learning institution.
Mazepa is popular in the Ukraine financial field because he is the creator and owner of one of the biggest investment companies within Ukraine. The company processes stellar transactions: First Private Brewery, Galnaftogaz, UMH, Milkiland, TMM, Darnytsia and others.
Also, Mazepa is regarded as the major recruiter within the cabinet. He was tagged by media as the HR advisor to Boris Lozhkin in the view of what he recommended on applicants for top positions.
Thirdly, in serious scams, the name Igor Mazepa behind Boris Lozhkin always appears. The latest scam was about cashing in non-permanently occupied territories of money via terminals that belong to Concorde Capital.
Boris Lozhkin is a businessman. He has over 28 years of expert experience. In the late eighties is when he started investing. In 1994; he created Telenedelya newspaper and this is where his media company (UMH) came from.
Within 2012 and 2013, UMH was among the biggest media firms within Eastern Europe from. Its share capital was several million dollars.
Within 2006 and 2013, Boris Lozhkin was one of the officials at WAN-IFRA, International Media Group.
In 2013, Boris Lozhkin was named one of the leading 30 most powerful media personalities in the CIS nations.
In 2008 Boris Lozhkin won the Entrepreneur of The Year title in the worldwide Program of Ernst and Young.
In 2013, he was number 3 on the category of the most powerful leading managers in Ukraine.
From 2014 to 2016 he held the Presidential Administration leadership position in Ukraine.
From June 2015, Boris Lozhkin was an assistant Head of the National Reform Council.
In 2016 he became the Secretary of the National Investment Council.
Besides all that, Boris Lozhkin has also published some books. Among them are: The 4th Republic, Why Europe needs Ukraine, and Why Ukraine needs Europe.
Peter Poroshenko will gain money on rich Ukraine citizens in clinics purchased by Sergei Kurchenko. Sergei is the creator of the Concorde Capital Company and presently, he is an official at the supervisory Ukreximbank board. Igor Mazepa bought a fortune. He ensured the gaining in interests of Boris Lozhkin, among the biggest networks of privately owned clinics for the money of a runway oligarch (Sergei Kurchenko).
In August 2014, Igor Mazepa revealed the buying of shares in several clinics “Dobrobut”. This transaction was done together with one co-owner of Luxoptika Company (Oleg Kalashnikov). Besides that, Igor Mazepa felt that in the purchase, his investment firm (Concorde Capital) never represented anybody’s desires.
Details and the cost of the purchase were also not revealed. But other key players rated Dobrobut UAH two hundred and fifty million. Going ahead from that point, all members in the purchase of the clinics were supposed to lay out around one hundred million UAH.
Igor Mazepa got himself a Dobrobut. The agreement during the sell had an interesting background. The person who previously owned the Dobrobut, Ruslan Demchak (the co-owner of the business team of Ukraine Business Group), in 2012 wanted an investor for the clinics. In the meantime, the present leader of the Presidential Administration (Boris Lozhkin) wanted that asset. During that time, Boris Lozhkin owned the biggest media company in Ukraine, UMH.
But in 2012 before the sale case failed to come, Boris Lozhkin said goodbye to his media company. Boris Lozhkin sold the company to oligarch Yanukovych family (Sergei Kurchenko). A little while before that, Petro Poroshenko (another co-owner), came out from UMH ownership structure.
Demchak got arrested because of laundering criminal proceeds. After two years during the summer of 2014, the purchase took place and all the participants except the leader of AP took part in it.
In the meantime, it was clear that Dobrobut wanted a minimum of 2 buyers (Advent International and EastOne Victor Pinchuk). From the findings of Concorde Capital, the clients were removed by the workers of Igor Mazepa. This was due to the desire of a real purchaser who was ready to gain the asset, but was somehow cramped in the money.
Upon the 2013 decline where UMH got sold to Sergei Kurchenko. It was announced by Boris Lozhkin that the formation of an investment fund for a sum of two hundred to three hundred million dollars, puzzles intersected. Kalashnikov and Concorde Capital officially purchased eighty percent of Dobrobut. Twenty percent was left in Demchak ownership. In the initial months of 2014, Igor Mazepa during an interview mentioned that the company was withdrawing from asset management. This was because it was unable to acquire the needed amount to make the business beneficial.
Also, the profit of Concord for the entire 2014 added to UAH 1.5 million. All its assets amounted to UAH 15.5 million. On the other hand, the debt of the company was above UAH eighty million.
Even with connections of Igor Mazepa, it was not easy get credit in bank at the level of the fight for that dubious aim. So, the funding source in the form of an old comrade and partner of Boris Lozhkin proposed itself. For the application of a screen like that, Boris Lozhkin paid the whole amount.
To begin with, the preferable individuals were assigned the top positions. Ukrspirt Director General was elected the former leader of Concorde Roman Ivanyuk. Coincidentally, it was him involved in Concorde deal for buying Dobrobut. Half a year later, he led the state monopoly in producing alcohol within the country. Another form of Igor Mazepa is in the present leadership structure is the State Fiscal Operation leader, Roman Nasirov. He is also an official at the Concord Capital management. Rumour has it that he quit the company in 2009, but he maintained a great connection with the owner.
One month after the Dobrobut deal was over; Igor Mazepa got elected the supervisory board of Ukreximbank state. The old owner of Dobrobut Ruslan Demchak is currently the Citizen’s deputy of the Bloc of Petro Poroshenko faction. Also, he was at the parliament in the home of President Poroshenko within Vitsa area. Ruslan Demchak issues were over when arrested in 2012.
It started with the People’s Deputy Appeal of the faction “Fatherland”, an official at Verkhovna Rada Committee on battling planned crime and corruption of Vladimir Ariev in the SBU.
Arieva revealed to the leader of SBU (Igor Kalinin) that he got information regarding the criminal activities company established as per PJSC Erde-Bank. PJSC Erde-Bank offers services that relate to the conversion of non-cash money into cash with the help of stock market members.
Currently, Vladimir Aryev is in parliament, but not from “Fatherland”, but from the faction “Block of Peter Poroshenko.” So, they are with Demchak colleagues-party officials. Igor Mazepa, from what Boris Lozhkin submitted, actually took the place of Valery Gontarev and her ICU in the position of “purse” of the President.
Igor Mazepa with Boris Lozhkin formed an economic pyramid. Investors lost money and Concord Capital’s capital went up. Ukraine is actually a European nation; however, activities of Forex at the legislative point have not been regulated.
Trading on foreign exchange is just the same as illegal gambling businesses. The probability of losing a lot of money is high. Ukraine is however committed to preparing a bill on Forex activities.
But, individuals are still obsessed with becoming wealthy easily through investing on Forex trading. There are smart economists who take advantage of the naivety of others and they end up getting a lot of money from them promising huge returns. This results to brokers gaining huge profits and depositors losing so much money.
Sadly people always fall for such tricks and a good example is PrivateFX which promised to increase the investors’ capital. PrivateFX is headed by Igor Mazepa. The strange thing is that the customers of the pyramid were some individuals who had lost money before in another similar organization known as Forex Trend.
Igor Mazepa promised investors that he will give them back the money they had lost in Forex Trend and additionally he would increase it. The naive clients started investing and some even took loans. They were confident about it because Igor Mazepa was a popular distinguished banker and no one could imagine that he was capable of cheating.
In PrivateFX, Igor Mazepa used a great approach. Besides that capital multiplication scheme, there was an offer to advertise a brokerage company in the social media networks. This was done while unflattering comments were removed for some fee. Igor Mazepa and PrivateFX received money from the clients along with free advertising.
With the help of internet resources, the company advanced actively allowing individuals to invest at high interest rates. The clients who withdrew the money on time were lucky but those who wanted to gain a large amount of money ended up without any money.
Igor Mazepa later sold PrivateFX to a different legal entity as a non-profit asset once he had gained a good amount of money. Immediately, the network did not contain any information about Igor Mazepa owning PrivateFX. This is not a surprise anyway because he was aware that people will be tricked and the profits would be transferred abroad.
Igor Mazepa has severally been prosecuted for fraud in the US but he was lucky to get off with a huge money penalty.
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Boris Lozhkin got sacked by President Poroshenko because of fraud. Aljazeera revealed that so much money had been gotten fraudulently.
The money was part of 500 million dollars settlement from another oligarch (Sergei Kurchenko). This had something to do with a deal about purchasing United Media Holdings, in 2013.
New accusations over the UMH sale
Boris Lozhkin together with President Poroshenko faced corruption accusations. These accusation were related to the 500 million dollars Boris sale of his media company. The company was sold to Serhiy Kurchenko (a supporter of the previous president- Viktor Yanukovych).
On 8th February, Aljazeera wrote about the amount paid for the media company from a loan gotten with assets that were worth fifty million dollars. These assets were believed to have been stolen by Kurchenko. This simply means that Boris Lozhkin got money that was acquired fraudulently. This leaves people wondering why they have not been seized.
As per what Aljazeera revealed, President Poroshenko was still the owner of 3% stake in the media company when Kurchenko bought it. So, he gained fifteen million dollars acquired fraudulently.
President Poroshenko denied owning the stake when the purchase took place. Additionally, a TV channel show on 13th February revealed evidence that Boris Lozhkin got one of the media company assets. The findings claim that the gaining might have been a payback for Ukraine prosecutors’ attempt to unfreeze Kurchenko’s media company assets in 2014.
Maria Popova (the spokesperson of Boris Lozhkin) denied the allegations. She stated that the UMH deal legality was confirmed by well-known law firms. She further insisted that Boris Lozhkin did not own any company assets at that time.
Most analysts believe that the five hundred million dollars sale amount was way above the actual value of UMH. This is why it is suspected that money was laundered but Boris Lozhkin denies those accusations.
As per Forbes magazine, the cost of UMH was 80% to 300% above the media firms with the same financials.