Oleksandr Ihnatenko, a defendant in the Ukrgasbank case, and former Deputy Head of the Ukreximbank Board of, being under the HACC investigation, owns a stake in the stevedoring business associated with the OREXIM group. Law enforcement agencies should establish the legality of the acquisition of corporate rights in a private stevedoring company by a top manager of state-owned banks (Ukrgasbank and Ukreximbank).
Economic analyst Oleksii Kushch writes about this in his blog on the Gordon.ua website.
The analyst recalls that Ihnatenko has made a deal with the investigation in the Ukrgasbank case, agreeing to pay some compensation, but official reports did not say where the funds will be directed.
"Ihnatenko made a deal with the investigation, either, as reported by the NABU, for "compensation" of UAH 35 million to an unknown person and on what terms, given that there is no victim in the case, or, as SAPO later reported, for a donation of UAH 15 million to a special charitable fund to produce drones (why not to the state budget?)" notes the economist.
Kushch also points out that, according to his information, when Ihnatenko was detained in this case with the possibility of posting bail, part of the amount — UAH 40 million — was paid by unknown individuals, and most of it was paid by a company associated with the OREXIM group.
"The bail of UAH 40 million was paid quickly. A smaller part was paid by Ihnatenko himself and three individuals, and the larger part by a little-known Flybridge LLC. How can this be related to Ihnatenko? Opendatabot provides the following information. The company’s owner is Orexim Closed-end Non-Diversified Venture Corporate Investment Fund. The ultimate beneficial owner and founder is Yurii Budnyk. According to Opendatabot, the same participants are also in the ownership structure of the Stevedoring Investment Company, in which 12% of corporate rights belong to... Oleksandr Ihnatenko. The puzzle has been put together," emphasizes Oleksii Kushch.
The author of the blog calls on law enforcement agencies to establish how an employee of state-owned banks acquired corporate rights in a large stevedoring business.
"Why was Ihnatenko allowed into this business? These are not shares on the stock exchange. What services could a state banker provide to such a business, managing the corporate sector in a state-owned bank? The question is rhetorical. However, the answer must be given by the authorized state bodies — NABU, SAPO, NAPC and others. First of all, it is necessary to determine whether there was a conflict of interest in this combination of state banking and private business. Another question should be answered. Wasn’t the sale of a share in a potentially mega-profitable stevedoring business to a top manager of a state-owned bank (and a bank with a state-owned share) a kind of "veiled bribe?" asks the analyst.
As a reminder, Stevedoring Investment Company is one of the leading operators in the Ukrainian market. The company operates in the sphere of the state enterprise Mykolaiv Commercial Seaport. The company’s main activities include vessel reception, storage, and transshipment of cargoes, including grain, chemical fertilizers, ores, and coal. Orexim Group is a holding company with operations in infrastructure, logistics, and finance.
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