Court detains Concorde Capital founder Ihor Mazepa with $9.3 million bail

Ihor Mazepa in the courtroom on January 19, 2024
Ihor Mazepa in the courtroom on January 19, 2024

Ihor Mazepa, founder and CEO of Concorde Capital investment company, has been ordered to pre-trial detention with bail set at UAH 350 million ($9.3 million), as stipulated in a Jan. 19 court ruling.

Mazepa was arrested on Jan. 18, when he was crossing the Polish-Ukrainian border on his way to attend the World Economic Forum in Davos. The courts also detained two other suspects in the case of alleged unlawful privatization of land for real estate development near Kyiv.

Read also: SBI explains detention of businessman Ihor Mazepa for alleged attempt to appropriate Kyiv HPS lands

Ukraine’s State Bureau of Investigations alleged that Mazepa orchestrated a plan to illegally seize land previously used by the Kyiv Hydroelectric Power Plant.

Read also: Court denies broadcasting preliminary hearing on businessman Ihor Mazepa

NV Business sources previously reported that Mazepa’s detention is linked to obtaining land rights for building the Goodlife Park cottage town in the Vyshhorod district of Kyiv Oblast.

Concorde Capital told NV Business that bail of UAH 700 million ($18.6 million) was requested for Mazepa, with his brother facing a UAH 500 million ($13.3 million) bail, despite the alleged damage being UAH 7 million ($186,000).

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Read the original article on The New Voice of Ukraine