July 11th, 2024

Feds who forced Ukrainian investor to sell rocket company backtrack years later

Ukrainian businessman Max Polyakov is freed from US regulatory constraints after selling his stake in Firefly. Despite missing out on Firefly's success, he can now consider new space industry ventures.

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Feds who forced Ukrainian investor to sell rocket company backtrack years later

After a long and contentious battle, Ukrainian businessman Max Polyakov has been released from all conditions imposed by US regulators, allowing him to move on from the forced sale of his majority stake in the rocket company Firefly. The saga began when Polyakov injected $200 million into Firefly, only to face accusations of being a potential spy by US officials. Despite his efforts to comply and step back from operations, Polyakov was ultimately compelled to sell his holdings at a significant loss. However, Firefly has since thrived, achieving successful rocket launches and expanding its business lines, now valued at over $1 billion. Polyakov, who never fully reaped the rewards of his investment due to the premature sale, has been informed by the US Treasury Department that he is no longer bound by the imposed conditions. While his return to Firefly seems unlikely, Polyakov may explore opportunities in the broader space industry following this resolution.

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