Igor Mazepa and Pavel Krymov – Wizards of Ponzi Schemes

Igor Mazepa’s business partner is a suspect in large fraud schemes and is wanted in EU and post-soviet countries. It deals with Pavel Krymov that is also known as Krementsov and Yakimenko is currently on the run, and an international warrant has been issued for his arrest.

Igor Mazepa’s future “comrade” was born in Zaporozhie, an industrial city in Ukraine. He used to move constantly and currently he is an accused in organized crime getting revenue from more than 40 frauds. It deals with the schemes that were arranged on the territory of such post-soviet countries as Ukraine, Russia, and Kazakhstan. The number of their victims reaches 516 000 persons. The total amount of stolen money is several billion dollars.

According to the data from the investigation, Pavel Krymov put in his pocket $29B of the clients’ funds as a result of his Forex Trend fraud turned into Private FX of Igor Mazepa. In this scam, Pavel Krymov impersonated a broker offering trade and investing management from 2011 to 2015.

Igor Mazepa Friend’s High-Profile Scams

Pavel Krymov’s the most outstanding frauds:

  •             Questra           World that introduced itself as a company specializing in buy-back             operations.
  •             A.G.A.M.         looked like huge Investment Fund.
  •             Forex   Trend was the largest pyramid scheme from Igor     Mazepa           that had been working for 5 years hassle-free.
  •             Panteon Finance – one more pyramid based on clients’ deposits.
  •             Private FX (Forex Trend 2.0) – Igor Mazepa’s company that has managed to let the investors twist in only a year.
  •             Solvena Prime broker – pseudo brokerage firm related to cryptocurrency.

To succeed with the manipulation of public and investors opinion, Igor Mazepa’s partner incorporated his networks in the space of blogs and forums. In 2014, Pavel Krymov became the owner of MMGP.RU forum for Russian-speakers and used it to promote his projects via several fake accounts.

Despite the pieces of evidence and facts that proved the Igor Mazepa partner’s guilt, he managed to get away due to prosperous corruption. The increasing number of complaints from plenty of investors forced him to escape to Riga, a capital of Latvia, where he registered his last project – the Solvena Company that focused on crypto.

New fraud proposed its clients to invest in cryptocurrency through their company. As a result, people trusted Igor Mazepa’s partner their money again. Krymov should have invested funds in crypto and multiple the seed capital. Indeed, the investors got their income from the following participants’ funds.

Why didn’t Solvena Manage to Inspire Confidence?

Solvena didn’t succeed from the very beginning because of the obvious signs of its doubtful origin.

  1.             The fake regulator was on the home page of their site. The true fact is       that nobody regulates crypto. Its basic feature is decentralization that excludes a single owner.
  2.              The site’s and the regulator’s domain names were identical – crocr.ru – and registered on the same day.
  3.             Some publicly available documents claimed that Solvena Corp was            registered on the British Virgin Islands with the number 1843819. That means that the company is registered but has no license.
  4.             Igor Mazepa’s partner had no license from Russian Central Bank, as provided by law.

It’s no secret that MMGP.RU forum is controlled by Krymov. That’s why Igor Mazepa became the perfect ads space to promote his frauds including Solvena. While looking through their blog, nobody can find out any of negative comment because the moderators deleted them immediately after their appearance on the site. Despite their multiple mistakes and failures, the company worked, somehow or other. It even owned a real office in St. Petersburg at 35 Big Pushkarskaya Str.

Some Attempts to Revive Solvena

When Igor Mazepa’s partner realized Solvena’s failure, he decided to attract more audience. The large ads campaign was launched that helped them take part in various crypto events as guests or sponsors. Solvena’s speakers used to be invited for the blockchain conferences in Kyiv, Moscow, St. Petersburg, and Tallinn. This was the way of reaching the targeted audience as one of the fraud’s stages.

The first information about problems inside Krymov’s company appeared in June 2017 and explained their active performance: the management tried to harvest maximum in order to scuttle the project completely. As soon as the payouts started reducing, the company didn’t comment on it up to the end of June when the curious info appeared on the site dealing with the company’s transition to the new system as a result of new EU legislation. Slovena also claimed that it had to freeze its activity timely because of a new product launch that would have made all the operations more transparent.

Pavel Krymov was arrested in the Moscow airport Sheremetyevo, on 6 February 2018 upon request by Kazakhstan judicial police. It has been reported that he faces up to 10 years’ imprisonment.


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About Author: Neil Morris is PR manager at Good-PR agency