MAKO-Trading LLC, part of MAKO Group (both based in Donetsk), owned by the surviving son of former President of Ukraine Viktor Yanukovych, Oleksandr, and has denied its involvement in illegal activities related to the financing of terrorism.

"Due to the spread of media reports that officials from MAKO-Trading LLC are suspected of illegal activities related to financing terrorism, we officially state that the statements are absolutely groundless," reads an official statement issued by the group.

The company said that its core business is trading with coal in Ukraine which is carried out in line with Ukrainian law.

MAKO-Trading has confirmed that the company applied to court due to some of its partners, in particular, ArcelorMittal Kryvyi Rih (Kryvy Rih, Dnipropetrovsk region) not paying for products supplied.

"After long hearings the cassation court obliged our trade partners to pay for raw materials under the agreement. We see that the reason of spreading the above-mentioned absurd accusations only in desire of unfair partners to use groundless political accusations in an ordinary commercial dispute, as they do not have legal arguments not to fulfill liabilities taken," reads the statement.

The company said that MAKO-Trading never conducted disputable financial transactions and all its funds are deposited in accounts at Ukrainian banks and they will be sent to pay wages to employees, taxes to the Ukrainian budget, and payments to contractors.

"All attempts of linking MAKO-Trading LLC and its shareholder with financial infringements are trumpery and politically motivated. Moreover, despite large pressure on the company, in 2014 MAKO-Trading paid only profit tax of UAH 116 million to the Ukrainian budget, which confirms the position of managers and the company's shareholder to operate in line with Ukrainian law," reads the statement.

As reported, the main investigative department on combating corruption and organized crime of the Security Service of Ukraine (SBU) is conducting an investigation into the possible involvement of officials from MAKO-Trading LLC in illegal activities related to the financing of terrorism.

In addition, the court by its resolution dated April 6, 2015 dismissed the cassation appeal of PJSC ArcelorMittal Kryvyi Rih (Kryvy Rih, Dnipropetrovsk region) against the suit of MAKO-Trading on recovering the debt of UAH 110.264 million from ArcelorMittal Kryvyi Rih under the contract for coal sale and purchase dated January 10, 2014.

MAKO-Trading LLC was registered in late 2011. Its core business is fuel wholesale.