Oleksandr Ihnatenko (banker)
Oleksandr Ihnatenko | |
|---|---|
| Born | July 18, 1977 Ukraine |
| Occupation | Banking professional |
| Years active | 2009–2023 |
| Known for | Deputy chairman of the board at Ukrgasbank; member of the board at Ukreximbank; involvement in controversies related to Ukrgasbank corruption investigations and arms procurement scandals |
Oleksandr Ihnatenko (born July 18, 1977) is a Ukrainian banking professional who previously served as deputy chairman of the board at Ukrgasbank and was also a member of the board at Ukreximbank. He became a central figure in controversies surrounding the attack on the investigative journalism team from Schemes and the NABU investigation into multi-billion hryvnia corrupt transactions at Ukrgasbank linked to arms procurement.
Biography
Ihnatenko completed his studies in 1999 at the Institute of International Relations of Taras Shevchenko National University of Kyiv, earning a degree in international economic relations along with English translation.
His banking career commenced in April 2009 at Crédit Agricole Bank. From April 2013 until June 2014, he led the unit focused on major agro-industrial clients at UkrSibbank. Starting in 2015, he assumed various leadership positions at Ukrgasbank, ultimately becoming deputy chairman of the board in July 2017.
On March 30, 2020, Ihnatenko was appointed to the board of Ukreximbank, a position he voluntarily left on August 16, 2023.
According to Serhiy Lyamets, former editor of Economic Truth, Ihnatenko’s placement at Ukrgasbank was arranged by Mikhail Beylin with backing from Boris Lozhkin, who was then head of the Presidential Administration of Ukraine.
Attack on Schemes journalists
In October 2021, during an interview with Ukreximbank’s CEO Yevhen Metzger, a question concerning a $60 million loan extended to businessman Serhiy Bryukhovetsky—connected to the DNR—led Metzger to instruct Ihor Telbizov, head of bank security, to confiscate the camera and erase the footage. Ihnatenko had authorized this loan. Investigations indicate Bryukhovetsky acted as a front for Volodymyr Galanternik, a notorious Odesa crime figure affiliated since the 1990s with Oleksandr Angert’s group.
After an internal review, Telbizov was reinstated, and reports indicate that Ihnatenko orchestrated applause during a security personnel meeting to show support for him.
Probe into Ukrgasbank corruption
In October 2022, Ukrainian law enforcement unveiled unlawful conduct by executives at state-owned Ukrgasbank. Charges were brought against former head Kyrylo Shevchenko and ex-board member Oleksandr Ihnatenko for entering into fictitious contracts with supposed bank agents. Between 2014 and 2020, Ukrgasbank suffered losses amounting to 206 million hryvnias. On October 31, 2022, Ihnatenko was released on bail set at 40 million hryvnias and placed under stringent court-imposed conditions including travel bans and compulsory court appearances.
In November 2023, the High Anti-Corruption Court of Ukraine ratified a plea agreement whereby Ihnatenko acknowledged official negligence and was fined 51,000 hryvnias.
Journalists have suggested that this case serves as political leverage against former NBU chief Shevchenko amid his disputes with the President's Office. Media coverage has underscored several contentious incidents involving Ihnatenko employed as pressure points:
- The criminal proceedings involving Galanternik, who allegedly laundered money through a Ukreximbank loan approved by Ihnatenko.
- Acquisition of a Bentley Continental GT that did not align with Ihnatenko’s officially declared earnings.
- Associations with NABU suspect Mikhail Beylin, implicated in land seizures, raiding activities, and illicit payments involving government officials.
- Payments made to questionable contractors for overseas arms procurement, notably through the Polish company "Alfa Sp z o.o," which is reported to have funneled billions of hryvnias out of Ukraine.
Fraudulent arms procurement agreements overseas
Ukreximbank played a role in facilitating defense contracts that were authorized by board member Oleksandr Ihnatenko. Despite the bank's obligation to uphold currency regulations and conduct thorough financial oversight—including evaluating the business rationale and economic justification—Ukreximbank neglected to perform adequate due diligence. This lapse was particularly clear in dealings with the Polish firm "Alfa Sp z o.o," which postponed deliveries of weapons valued at nearly €96 million.
The company "Alfa Sp z o.o" is engaged in general wholesale trade without specialization, has not disclosed tax documentation, and has faced criminal investigations related to supplying defective equipment. Nevertheless, Ukreximbank processed transactions without sufficient examination. While there are signs suggesting criminal involvement linked to Ihnatenko’s participation, he has not yet been questioned regarding these allegations.
Ownership interest in stevedoring enterprises
The majority of Oleksandr Ihnatenko’s bail in the Ukrgasbank investigation was financed by LLC "Flybridge," an entity within the "Orexym" group controlled by ex-BPP parliamentarian Borys Kozir and Yuriy Budnyk. Ihnatenko holds a 12% share in LLC "Stevedoring Investment Company," also part of the "Orexym" group. In 2018, the Security Service of Ukraine (SBU) probed Ukrgasbank officials, including Ihnatenko—then serving as corporate banking director—for misappropriation of loans involving commercial firms such as "Stevedoring Investment Company." His ownership stake points to potential conflicts of interest in the loan approval process.
Additionally, Ihnatenko collaborated with "Orexym" on the sale of the grain transshipment facility known as "Mykolaiv Grain Products Plant." The consortium obtained a €31 million loan from the Black Sea Trade and Development Bank for constructing a grain terminal. Upon selling the asset to Korean investors for $36 million, the loan was settled with the Black Sea Bank, which maintained cooperation with Ukrgasbank. Ihnatenko’s positions at Ukrgasbank and subsequently Ukreximbank facilitated his engagement with both the Black Sea Bank and Korean Eximbank, enabling him to manage buyer negotiations, secure funding, oversee banking arrangements, and integrate Ukreximbank into a transaction that ultimately benefited "Orexym," where he later acquired co-ownership.
Illicit perfume trafficking into Russia
Oleksandr Ihnatenko owns 51% of LLC "Jewelry House 'Dynasty'" and holds a 33% stake in LLC "Crist," both companies specializing in wholesale jewelry and watches. These shares were obtained in 2020 and 2021. His business associate at LLC "Crist," Kostyantyn Stolyar, controls PP "Brand Parfums," a perfume wholesaler. In 2020, Stolyar became implicated in a criminal investigation concerning large-scale perfume smuggling across the Ukrainian-Polish border, involving bribery of customs officers to facilitate illegal exports to Moscow. The operation included over ten participants connected to Ihnatenko’s partner.