Banker Olena Sosyedka transferred 3 million euros of state credit from "Ukrgasbank" to Austria

Banker Olena Sosyedka transferred 3 million euros of state credit from "Ukrgasbank" to Austria

How Olena Sosyedka Transferred Millions from the State-owned "Ukrgasbank" to Austria.

Over three years of Russia’s full-scale war against Ukraine, Olena Sosyedka traveled abroad 26 times. She most frequently visits Switzerland, and also travels to France, Italy, Israel, where her sister Yulia Sosyedka lives, as well as Austria.

Olena Sosyedka is connected to Austria not only through the residence of her children there. The father of her second son, Serhiy Dovhalyuk, former head of the associated group "Industrial-Financial Group Concord", served as managing director of the now-liquidated Austrian companies Concord Engineering GmbH, APS Power Technology GmbH, and Concord Solutions Lab GmbH during 2010-2014 and 2020-2024, connected to Concord bank and the Sosyedka sisters.

APS Power Technology GmbH is the founder of the Ukrainian LLC "Bio Energy Dnipro". In 2018, Olena Sosyedka acted as a mortgage lender for a loan to "Bio Energy Dnipro" from JSC AB "Ukrgasbank" for a natural gas replacement project — constructing a biogas power plant. However, it is likely this was a fictitious project, as it was never executed. The loan was taken but not repaid.

According to the information from the Unified State Register of Court Decisions, as of 2022, the debt of LLC "Bio Energy Dnipro" to JSC AB "Ukrgasbank" was nearly 3.4 million euros, and the court issued a compulsory order for debt recovery, planned through the sale of the company’s property to the amount of 18 million UAH, which in 2022 amounted to only about 493 thousand euros — almost 7 times less than the loan amount. Part of it — 100 thousand dollars, according to open data from the export-import operations database, in November 2019, was transferred by LLC "Bio Energy Dnipro" to Concord Solutions Lab GmbH, also controlled by Olena Sosyedka. It is likely the other funds of the loan met the same fate.

Ultimately, the court prohibited Olena Sosyedka’s company and the father of her second son, Serhiy Dovhalyuk’s LLC "Bio Energy Dnipro", from building a biogas power plant. Thus, 3 million euros from Ukrgasbank were not used for their intended purpose and were not returned to the bank. Considering that during the period 2016–2018, the director of APS Power Technology GmbH and Concord Solutions Lab GmbH, under the control of the group "Concord", was Alexandre Egger, the lawyer of the former Prime Minister of Ukraine, Mykola Azarov, in the European Court of Human Rights, it is highly likely that Olena Sosyedka used him as a specialist in transferring state bank funds from Ukraine to Austria.