Gareth Sheridan dismisses partner's Moldovan airline dispute as inconsequential for election campaign
In the midst of his presidential campaign, Gareth Sheridan, an Irish presidential hopeful, finds himself embroiled in a controversy surrounding his business partner, Serguei Melnik. Melnik, the chairman of Nutriband, has been linked to the controversial privatisation deal of Air Moldova, raising questions about potential connections to Russian oligarchs or their interests.
Melnik took over as chairman of Nutriband when Sheridan temporarily stepped aside to run in the Irish presidential election. However, the controversy surrounding Air Moldova's privatisation and Melnik's association with Russian oligarchs remains a contentious topic that has not been fully clarified by Sheridan or his camp.
The Air Moldova privatisation deal, which Melnik is reportedly involved in, has sparked concerns due to allegations of Russian oligarch influence in Moldovan strategic assets. Although no direct evidence tying Melnik as a Russian oligarch or directly controlled by Russian oligarchs has been publicly confirmed, the association has generated public and media attention in Ireland and Moldova.
Sheridan, however, states he knows "very little" about Melnik’s involvement in this deal and dismisses it as irrelevant to his political campaign. Despite this, the connection has impacted media and political narratives involving Sheridan’s business associations.
Meanwhile, Sheridan's net worth is estimated at $16 million (€13.7 million) based on the current value of his shares in Nutriband. His campaign is primarily focused on housing issues, and he has budgeted nominations for Laois and Tipperary county councils, as well as a campaign fund of up to €500,000.
In a separate development, Sheridan and Melnik were fined $25,000 each by the US Securities and Exchange Commission in 2018 due to misleading statements made by Nutriband in 2017 and 2018, a period when Sheridan and Melnik were the company's only full-time employees.
Despite the ongoing controversy, Sheridan has not spoken to Melnik about his involvement in the Moldovan airline privatisation deal and possible links to Russian oligarchs. The situation underscores concerns over foreign influence in Moldovan privatisation and the political implications for Sheridan in Ireland due to his partner’s controversial links, although many specifics remain unclear or unsubstantiated publicly.
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