Head of NSSMC office Yanchuk went on "business trip" to Finland with his family on New Year’s Eve at expense of Yermak’s business partner - media
Ruslan Magomedov, Chairman of the National Securities and Stock Market Commission (NSSMC), has signed an order to send Mykhailo Yanchuk, Head of the NSSMC Office, on a business trip to Finland from 1 to 8 January 2025.
This was reported by Censor.NET with reference to UP.
The publication notes that according to his job description, Yanchuk is supposed to organise the work of the commission, not understand markets and capital.
"It should be added here that Mr Yanchuk did not go on the business trip alone, but with his wife and eight-year-old son. This is evidenced by a photo taken from the border guard base by interlocutors of Ukrainska Pravda," the statement said.
"But let's get back to Mykhailo Yanchuk's travel order. According to it, Yanchuk was to take part in the International Conference on Forecasting Economic and Financial Systems in Helsinki (Finland) from 2 to 3 January. From 6 to 7 January, the Second International Conference on Experimental Finance, Theory and Econometrics was to be held in Helsinki.
We did not find any references to these events in open sources.
Although the people who were ready to take part in the conference in Finland on 2 January should have been very interested in economic and financial systems," he goes on to say.
Both events listed in the NSSMC's order as grounds for sending Mykhailo Yanchuk to Finland have signs of virtuality - everything indicates that it was possible to participate in them without leaving the premises where the NSSMC is located.
For example, the International Conference on Forecasting Economic and Financial Systems, which was to take place in Helsinki on 2 January, is now only mentioned in the cache version of aggregator sites that automatically collect information about all events in Europe and around the world.
No details, announcements or reports on the event have been published. The website of Research Leagues, which is named in the NSSMC order as the organiser of the event, has no information about the conference in Helsinki on 2 January. However, an event in the same city and with the same name is scheduled for 2 and 3 October 2025.
According to the interviewed economists, the organising company of the Research League is an Indian website that has nothing to do with the scientific world or the events.
All of their "scientific conferences" are held in a virtual format, and they earn money from participants' contributions, which usually cost $350 per event.
These events are attended either by representatives of universities in India and African countries who need to have a "tick" on their participation in a scientific conference, or by scientists who are unaware of this scheme. There are many reviews on specialised websites that explicitly call the Research League "fraudsters".
"No mention of the results of Mykhailo Yanchuk's business trip was published on the public pages of the National Securities and Stock Market Commission's social media," UP notes.
It is also worth noting that the order, which is available to the editorial office and which was approved for the employee by Ruslan Magomedov, the head of the NSSMC, states that business trip expenses (travel, flight, per diem and accommodation) "shall be paid by the Public Union "SFG".
According to Youcontrol, "SFG" has two founders, one of which is "ELAR ASSET MANAGEMENT" Company LLC.
Artem Koliubaiev, a friend and business partner of the Head of the President's Office, Andrii Yermak, was among the founders of "ELAR ASSET MANAGEMENT" until April 2024, and now Mekhtiyev Elnur is listed as the founder.
Another company with a similar name, AMC "ASSETS FINANCIAL GROUP", but with the same owner, Artem Koliubaiev, was featured in the Bigus.info investigation "A company from the orbit of Yermak's film associate was allowed to send UAH 37.5 million abroad to purchase meat from the UAE in the midst of a full-scale war" a year ago.
"It is worth noting that the National Securities and Stock Market Commission granted permission to withdraw money abroad to companies from Koliubaiev's orbit. One of the freelance advisers to this Commission is Elnur Mekhtiyev, Koliubaiev's business partner in the newly created AMC and the financial director of the development company ENSO. Mekhtiyev is also currently listed as the ultimate beneficiary of the "Urban" fund, from which UAH 37.5 million was withdrawn.
The head of the National Commission, Ruslan Magomedov, is also a freelance adviser to the head of the Presidential Office, Andrii Yermak, with whom Koliubaiev previously had a joint company and produced a film together," the investigation said.
It should be added that Mr Koliubayev withdrew from the founders of both "ASSETS FINANCIAL GROUP" and "ELAR ASSET MANAGEMENT" last year, 4 months apart.
"It turns out that the holiday trip, excuse me, the business trip of Mykhailo Yanchuk, the head of the NSSMC office, to Finland was paid for by a company whose founder was Artem Koliubaiev last year, while the Securities and Stock Market Commission had approved the withdrawal of funds abroad for another company whose founder was Artem Koliubaiev a year earlier. The money was supposed to be used to buy meat in the UAE.
Since colleagues at the time never found evidence of the purchase of meat, this transaction could have been a simple money transfer out of the country.
How many such transactions have been or will be conducted in the future, and how many times the "ASSETS FINANCIAL GROUP" or any other company associated with Yermak's friend and business partner Artem Koliubaiev will need services from the commission where Mr Yanchuk works is an open question," sums up UP, adding that Yanchuk and Magomedov did not comment on the situation.
