Mazepa's lawyers challenge his arrest and UAH 350 million bail

Lawyers of businessman and investment banker, founder of Concorde Capital Ihor Mazepa have challenged his arrest with a bail of almost UAH 350 million.

Hanna Diakonova, head of public relations at Concorde Capital, has announced this, Ukrainian News Agency reports.

"Lawyers of Concorde Capital founder Ihor Mazepa challenged the decision to arrest him with an alternative bail of UAH 349 million," she wrote on her Facebook page.

She also confirmed that Ihor Mazepa’s country house burned down.

As Ukrainian News Agency earlier reported, Mazepa considers the amount of his bail of UAH 350 million unaffordable.

On January 19, the Pecherskyi District Court detained businessman and investment banker Ihor Mazepa with an alternative bail of UAH 349.7 million, the prosecutor's office had demanded a bail of UAH 700 million.

Mazepa is suspected of organizing a scheme to seize 7 hectares of land near the Kyiv Hydroelectric Power Plant in 2013.

The SBI detained him on January 18 on the Ukrainian-Polish border, later the businessman’s brother Yurii Mazepa was also detained.

Concorde Capital said the detention of Ihor Mazepa is due to his position in defense of business in Ukraine.