Igor Mazepa: How richness, power, and bad connections spoiled the Ukrainian businessman

Igor Mazepa. The Sandcastles Builder

swindler Igor Mazepa

Igor Mazepa wonderfully fits the quotation of the English historian John Dalberg-Acton:”Power tends to corrupt, and absolute power corrupts absolutely.” He is not a politician but he’s always somewhere near. The level of his corruption will overcome any power holder.

Igor Mazepa and the word “compromising” became synonymic lately. The information will be enough for a book. Igor isn’t going to become a politician now but he serves such power holders as Petro Poroshenko and Boris Lozhkin.

This fact helps Igor Mazepa to avoid punishment for little sins like financial terrorism support in DPR. He arranged permanent money transfer on the territory of this region. Igor also creates unfair financial structures, money laundering, the assignment of fictitious agreements concerning media-holding purchase, hacker attacks in the USA.

Mazepa’s Sandcastle №1. Private FX


Igor Mazepa organized an “exciting” financial platform which is known as Private FX. You can also call it a pyramid scheme. The company became a successor of another financial platform of a famous scam Pavel Crymov named “Forex Trend”.

Mazepa joined the project in the period when the Internet platform stopped giving money from the clients’ deposits and didn’t reply to their requests. But here comes Igor the Messiah with all his investments and everything seem to be Ok again.

But it was a mistaken thought. Igor Mazepa is a person who loves to reap benefits. The new company Private FX promised clients to return their money in an extraordinary way. First of all, you had to deposit an exact sum as you had at Mazepa’s “Forex Trend”. Igor’s company promised to freeze this budget on an account of a new pyramid. And other methods were even funnier than this one, especially, their advertisements on Youtube and in positive comments in social media networks, etc.

It was a very interesting scheme because Igor Mazepa covered the entire negative about “Forex Trend” and raised Private FX to the top of Internet ranks. And what happened to the critics of the system? They just deleted their accounts from the Igor’s Private FX platform.

Mazepa’s organization offered to deposit 1000 dollars and return the sum multiplied by 5. When the time to pay came closer, the support team just promised to process the request, and the legal department deleted the negative comments of angry clients.

After Igor Mazepa has got all the money, he closed the project and said that it was a profitless investment. Of course, no one was going to return money to depositors.

What about a license? Igor Mazepa thought even about this factor but it was a too quick decision. It appears that he is not a kind of a guy who counts his forward steps. The only one will be much enough for Igor Mazepa. After the first scandalous articles about the pyramid, the information about some Swiss company-owner and a license appeared on the site. But soon, it became clear that the document was given as a permission to sell LED bulbs. They quickly deleted the post from Mazepa’s site after the revision.

Nevertheless, Igor Mazepa has been working on this scheme since he’s become the head of “Concorde Capital”. There are many articles about this pyramid on the Internet.

Igor Mazepa’s Sandcastle №2. “Ukrspirt”

The exact company is the most important spirit manufacturer in Ukraine. It counts 41 factories. Of course, “Ukrspirt” is a central character of numerous corruption scandals.


Igor Mazepa became the head of the company while Yatseniuk occupied one of the political positions. But he didn’t sign any compromising document. That’s why Igor Mazepa gave the position of an executive director to Roman Ivaniuk who worked at “Concorde Capital’. By the way, the former head of the Bureau of the Fiscal Service Roman Nasirov was also employed at Mazepa’s company.

“Ukrspirt” became famous because the organization sold counterfeit vodka and earned millions of illegal hryvnias. It was a sweet spot at the time Yanukovich family. And the period of Poroshenko’s government is not the exception. The President definitely knows who fits the position best of all to be able to take the sweetest part. Igor got another great asset thanks to his connections. Thanks to fictive agreements they dirty laundered about 1 billion hryvnias. That’s why the country didn’t receive around 400 million hryvnias. Igor Mazepa made his own profit .

The story of “Ukrspirt” is connected not only with the series of bandit economical schemes but also with a criminal. Viktor Pankov, the former executive director of the company, was shot in May 2017. A little bit later, the police found bandits who kidnapped and killed businessmen. Pankov became one of their victims. But as always it’s done in Ukraine, there wasn’t any information about the person who ordered the hit.

The Sandcastle №3. “Concorde Bermuda”

cheater Igor Mazepa

Mazepa is definitely a high roller. If he plays, he plays big. That’s why Igor decided to jump into the American market and earn some money there. And the word “earn” isn’t used in a traditional way. Igor just wanted to get someone’s money in an unfair way. There was a huge exchange business scandal in the USA concerning Mazepa’s “Concorde Bermuda” which broke the rules.

A group of Ukrainian and Russian hackers hit the servers of the US news services and downloaded unpublished materials containing confidential data about financial companies. After this, they sold the information to concerned parties. The scams earned around 100 million dollars in this way.


They had a judicial proceeding and the guilty people were imprisoned but it seemed like Igor Mazepa was innocent again. The American law regulator obliged him and his “Concorde Bermuda” to pay a multimillion penalty.

Igor Mazepa finds the way to avoid judgment every time. In the interview for a famous Youtube channel “Big Money” he honestly confesses that he is ready to break the law in case it’s needed. Actually, Mazepa does it regularly.

The Sandcastle №4. Terrorism Financial Support

Actually, this operation segment of Igor Mazepa is not a sand one. These are real schemes of money transfer to occupied Donetsk and Lugansk. But should we emphasize that it’s forbidden to send finances to these territories? It seems like you can’t do that only in case you are an ordinary person. But if there are such characters as Boris Lozhkin and Petro Poroshenko among your friends, you can do anything you want to. You will have just to wish it. Igor definitwly uses all his chances.

We also can forbid the operations of Yandex.Money and WebMoney. It’s not a problem. Besides after Ukraine banned almost all electronic payment systems, only one e-wallet which lets transfer money between Russia and Ukraine is available. It is Igor Mazepa’s system TYME. You can transfer money to forbidden territories right now without any restriction. And no one knows who receives these finances after the operation. They can be got by both a granny who doesn’t want to leave her native town or some terrorist. There’s no a doubt that Mazepa supports occupants.

Final Words about Mazepa

deceiver Igor Mazepa

Igor Mazepa is a hero of numerous scandals and articles. But the police still doesn’t pay the needed attention to this scam. Actually, no one imprisons certain thieves nowadays, that’s why there’s no hope that someone will look at a bandit with such a biography. However, what is theft? It’s a formality. It’s a taking of a private property or money for one person. But for Igor Mazepa it’s just a right repartition of a budget. People who get these finances perform the government nowadays. The businessman belongs to their environment. The things were like this during the first Revolution. Igor Mazepa bought the assets for Rinat Akhmetov’s companies when Yanukovich was the President. Nowadays he helps to fill the wallets of present government representatives and takes a high commission for the service.

Should we mention widely accepted competitive methods of business struggle? The West world already forgot the era of Wild West but on the territory of Ukraine the battle only begins. The market is being floured every year. Igor Mazepa is an essential element of nowadays. He’s a reliable cog in a machine.


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