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Home of detained investment banker Ihor Mazepa, vocal critic of state pressure on business, burns down overnight

by Elsa Court and The Kyiv Independent news desk January 22, 2024 12:36 PM 3 min read
The home of Ukrainian investment banker Ihor Mazepa, which burned down overnight, shared with the Kyiv Independent on Jan. 22, 2024. (Anna Diakonova)
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The family home of detained Ukrainian investment banker Ihor Mazepa burned down overnight, Anna Diakonova, head of public relations at Mazepa's company Concorde Capital, told the Kyiv Independent on Jan. 22.

Mazepa, who was a vocal critic of state pressure on business, was detained on Jan. 18 under suspicion of illegally seizing land in Kyiv Oblast. Mazepa and his press service called his detention an unfounded attack against his business.

Ukrainian media outlet LB reported earlier on Jan. 22 that the house in Chernihiv Oblast had burned down, citing anonymous sources. Sources told LB that the house was equipped with surveillance systems, so the cause of the fire is being investigated.

The house burned down at "around half past four in the morning," according to Diakonova. "We are currently investigating the situation."

In response to a question about whether Mazepa's home had been targeted, Diakonova said that the house had been there "for 10 years and everything was fine with all systems."

Mazepa was detained as he tried to cross the border into Poland. According to Concorde Capital, he was on his way to the World Economic Forum in Davos, Switzerland, when law enforcement officers detained him and raided the company's office.

On Jan. 19, the State Bureau of Investigation said that the businessman is suspected of illegally seizing land near Kyiv, calling him "the organizer of a criminal scheme."

Mazepa's detention is related to the acquisition of land rights for the construction of the luxurious cottage resort Goodlife Park in the Vyshhorod district, Kyiv Oblast. The resort is located on the shore of the Kyiv reservoir.

According to law enforcement officers, Mazepa allegedly organized a scheme to illegally seize the land on which the state-owned Kyiv Hydroelectric Power Plant facilities are located.

Mazepa denied the accusations. He said that the case "concerns the events of ten years ago," and connected his detention with his involvement in forming the"Manifesto 42" group, which emphasized the need to defend Article 42 of Ukraine's Constitution.

The article stipulates that "everyone has the right to engage in legal entrepreneurial activity" and that the state "shall ensure the protection of competition and entrepreneurial activity."

In November, the "Manifesto 42" group said that in the five months since President Volodymyr Zelensky ordered to address pressure on business by creating a single body for inspections, things have only worsened.

Mazepa founded Concorde Capital in 2004 and is now considered one of Ukraine's leading investment banks.

Case against investment banker points to increasing pressure by state on business in Ukraine
Ukrainian investment banker and head of Kyiv-based Concorde Capital, Ihor Mazepa, was detained on Jan. 18 concerning a 2014 case against the businessman in which he allegedly illegally acquired land for a cookie-cutter housing development back in 2013. Mazepa was detained by the State Bureau of Inv…
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