Despite the young age of the modern Ukrainian state, it has already managed to form a fairly stable layer of the financial elite. Today we will talk about one of its representatives, the owner of the investment company “Concord Capital” (CC) – Igor Alexandrovich Mazepa, who gained the reputation of a figure in the major financial scandals, organizer of frauds and “sketchy” schemes.

The birth of a financial “genius” Igor Mazepa was born in 1976 in an ordinary Kiev family. He spent his childhood and youth in Darnitskiy lane of the capital, where his parents are still registered to date. In 1998 he graduated from the Kiev National Institute of Economics, on the 4th course of which he got a job at the company Prospect Investments. Despite the pompous name, the company was engaged in the usual purchase of privatization vouchers from the population, and the task of the “investment banker” Igor Mazepa was to do it at the lowest possible price. In those hard times, the labor collectives were not paid for months, so many, without hesitation, left their shares for mere pennies.

Receiving good commissions, Igor Mazepa spent money as easily as he earned it. But he began to pay off cash with really large sums only three years later when he turned from an ordinary but zealous employee into the managing director of Foyil Securities New Europe. She did the same thing as the previous one, but at a higher level – buying up the assets of Ukrainian enterprises commissioned by foreign investment funds. The company was owned by an American businessman, Dorian Foyle, whom Mazepa met in 1998 while working on joint deals.

The ambitious guy, justifying the proud name of the famous namesake, showed all the talent of eloquence to convince Foyle to take him to his job. But the “friendship” did not last long, in 2002 Foyle dismissed Mazepa, disappointed in the results of his work. Igor Alexandrovich frankly failed in his tasks, losing the battle for the assets of Oblenergo in the framework of the “big privatization” initiated by Yushchenko.

However, Igor Mazepa did not remain idle, and returned to his previous boss Igor Levchenko, but not in Prospect Investments, but in the newly established company MFI, where he worked for 2 years as director of the investment banking department. 

Takeoff “Concord”

And then came 2004, the year of the Orange Revolution, and with it a large redistribution of property. Igor Mazepa resigned from the MFI and opened his own investment company, Concord Capital, with a very modest registered capital of 50 thousand dollars. Allegedly, it was all the money that the broker had at that time. However, the subsequent rapid take-off of Concord led many to the idea that Igor Alexandrovich had already created the company for ready-made deals, as in less than two years, the total income of Concord Capital had grown to a quarter of a billion dollars. Just a hyper-speed jump to success. Agree.

Later, in 2015, it turns out that the beneficiaries of the company, besides Mazepa himself, are residents of the UK and Australia, as well as one of the many faceless Cyprus offshore companies, which will challenge Igor Aleksandrovich as an entrepreneur in doubt. But it will be later, but for now, the businessman, inspired by success, manages to get carried away with a couple of sects, divorce his wife, leaving her and the child without an inheritance on penny alimony, and also light up in a number of questionable deals, frauds, and scandals.

 

Igor Mazepa’s dirty work

Igor Mazepa never hid that he was engaged in the acquisition of assets of Ukrainian enterprises for oligarchs. In 2005-2007, his Concord successfully bought for Rinat Akhmetov the shares of the Burshtyn TES, the “Donetsk oblgaz” and Ukrtelecom, and for the “boss” of Odessa Sergey Uchitel – the shares of PAO «Odessagaz».

In 2006, Mazepa’s company actively squeezed out the Dnepropetrovsk paint and varnish factory and even brought its man, namely, Igor Alexandrovich’s elder brother, Sergey, to the post of Chairman in his Board. All this was done only for one purpose – to bankrupt the enterprise and sell it to a Kiev competitor cheaply, which in the end was a success.

In 2007, Igor Mazepa created the asset management company Concorde Asset Management, which, under the guise of the booming activities of the three investment funds Prosperity, Perspective, and Stability, actually devalued the profits and sometimes the investments of investors. Even after the crisis in 2008, when the company’s business went frankly into decline, Mazepa continued to urge to invest in it. In the end, the “shop” turned, and many investors left with serious losses.

 

The collapse of the financial pyramid Mazepa-Krymov

However, few of them stopped it when, three years later, in 2015, Concord Capital bought out the failed Forex Trend company and called for investing in its reincarnation, PrivateFX. Successful, as at first it seemed, the forex broker, having worked for 5 years, simply nicked off, “throwing” thousands of investors into millions of dollars. Then the management of the Forex Trend was accused of complicity with terrorism and money laundering of the unrecognized republics of the LNR and the DNR, which automatically made any attempts by investors to return their investments absolutely unrealistic task.

Then PrivateFX stepped on the stage, which offered Forex Trend investors a “1 + 1” promotion campaign – deposit an amount equal to the amount lost in FT and get a doubled deposit. Many former FT investors have entrusted the reputation of Igor Mazepa and his “Concord” because the company has successfully existed on the investment market for more than 11 years, but the result was deplorable.

PrivateFX, which in fact was a banal financial pyramid and tracing paper with Forex Trend, only with a different website address and picture, slipped in less than two years. Payments stopped, and all the angry comments deceived customers on the forum of the company were actively stripped. As a result, the prudent Mazepa, in order to avoid investor rage, sold PrivateFX to the offshore company PrimeBroker, declaring the project “did not meet expectations”, and withdrew all previous commitments made on it.

Two questions arise: why did Igor Mazepa “fall for” a deliberately failed project, buying out a “dead” company from Pavel Krymov, a man with the reputation of a fraudster, and how much did he get? According to official figures, 25,000 PrivateFX clients suffered from the scam, losing deposits worth more than $ 20 million.

Obviously, things at Concord Capital are getting worse every year, if Igor Alexandrovich allows himself to participate in events that are so risky in the reputational sense.

Earnings on “ORDLO”

True, dubious “spotlights” in Mazepa happened before. In 2014, KK redeemed shares of the company OMP-2013, which were partially owned by the Russian payment system Qiwi. After the conflict in the Donbas, Qiwi served money transfers between the occupied territories and Ukraine, so the purchase of OMP-2013 shares by Mazepa’s company caused a stir in society, and the SBU and the prosecutor even started searches in Concord. But the hype quickly subsided, and the matter hesitated. It is rumored that it was not without the intervention of Boris Lozhkin, the then head of the presidential administration of Ukraine.

It is important to note here that a year earlier, Igor Mazepa helped Lozhkin to sell his UMH media holding almost three times the real value of an oligarch close to the Yanukovich family, Sergei Kurchenko. An ordinary Ukrainian taxpayer eventually paid for the transaction through cunning frauds, since the money for the purchase of an asset was taken on credit in the state-owned Ukreximbank.

Naturally, after such a service, Lozhkin simply could not help Mazepa in dealing with OMP-2013. Surprisingly, President Poroshenko signs a decree banning the operation of Russian payment systems in Ukraine, in particular, Webmoney and Qiwi. Mazepa’s company very quickly turns into a separate payment system TYME, which continues to deal with transfers from ORDLO to Russia and Ukraine and vice versa, but not directly, but through the Turkish company UPT. They did not stop Mazepa and the demands of the Turkish side to explain why she would be involved in financing the occupied territories. TYME easily got out of the situation, replacing the Turkish intermediary with … Kuwaiti. Especially observant experts point out that the TYME deal with Kuwait strangely coincided with President Poroshenko’s visit to this country. Again a coincidence? Maybe.

 

Financial “quagmire” Igor Mazepa

Another interplay that happened over the years with Igor Mazepa and his companies could be counted as coincidences, if not for their enviable constancy and uniformity – Ukrainian investors lose, Mazepa finds.

Thus, the “resourceful” businessman founded a subsidiary of Concorde Bermuda, which, using insider information obtained by hackers, was engaged in speculating with shares of American companies. However, the music did not play long. The Americans quickly tracked the fraudulent scheme, for which “Concorde Bermuda” had to pay 3.4 million dollars for lawsuits. And this is another confirmation that the Ukrainian “successful” schemes in countries where the law prevails, and not cronyism, do not work.

Reputation is important in every business. Despite a lot of critical moments in Igor Mazepa’s reputation, he continues to consider himself a hero of the Ukrainian stock market and radiates optimism. His frequent appearances and appearances in the role of an expert on the Ukrainian market cannot but be alarming. And some interviews once again confirm the fears – the businessman seriously thought about his political career. Indeed, in Ukraine, the office of an official gives power and strength, and this is probably the only thing that Igor Mazepa lacks today to become a full-fledged hetman of large financial flows.

 

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