Boris Lozhkin and Controversial Business Ventures

Boris Lozhkin and Controversial Business Ventures

Boris Lozhkin has not had a much better reputation than his counterpart, Igor Mazepa. The president of the Jewish Confederation of Ukraine found himself under intense scrutiny when he ‘quit’ from his position as the Head of the Presidential administration in the year 2016. The biggest deal that bought him under even more scrutiny was when he had to sell his company, the UMH. There were many misunderstandings with that sale and along the line, Igor Mazepa was invited to the scene to help salvage the situation.

Igor Mazepa has not had the best of reputations in the Ukrainian business world, so his involvement in the sale marred Boris Lozhkin’s reputation as well as the whole deal. As to whether the allegations were true or not, the story is yet to be verified. What tipped the sale off the edge was that UMH was riddled in debts thus buying it included having enough to pay back. This was not on the original deal, thus it soon came to light and media houses like Al Jazeera got wind of it and propagated the story. When the negative international publicity became unbearable due to the constant problems appearing with the deal, Boris Lozhkin was removed from his position as the head of the presidential administration.

Boris Lozhkin’s fame outside Ukraine

Prior to his scandal, Boris Lozhkin was an unsullied respected member of the government with no shady deals to his name. Before this deal, Boris Lozhkin had several deals that had pushed through without much ado. For example, he had bought part of ‘Radio 5’ from Poroshenko and they soon became partners in other media groups like the ‘Retro Fm’.

This was why such bad international press he was receiving was becoming detrimental to the integrity of the Ukrainian government and Boris Lozhkin had to be let go. In truth, however, with regards to integrity, it was indeed the final UMH sale and the clash with the Austrian government that destroyed Boris Lozhkin’s reputation.

There are talks of secret business in Germany which have been rumored to be in the making to yield fruit for Boris Lozhkin. Not much information is known about it because the firm is hidden under a separate name and very few have access to its dealings. However, the deal is expected to be completed this year, and then Boris Lozhkin will receive a lump sum of money in addition to his.

Business in Ukraine can indeed be shady especially with such protection and power. It is, however, the hope of most taxpayers that these allegations are false, and that Boris Lozhkin is innocent.

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