Ukraine crushed in $1.1bn fake gas deal

But Fenosa denies it has ever considered such a deal and continues to deny any relationship at all with Bonvehi.

So where does that leave us? It leaves Ukraine in the lurch. There is no way it can fund this terminal on its own, despite its claims to the contrary. We probably don't have to look much further than Gazprom and the Ukrainian oligarchy to find where this beautifully crafted charade was hatched.

In the meantime, Bonvehi - if such a person of that name even exists - remains elusive. No one knows who he really is or who he really works for.

More than anything, it's an advertisement for due diligence.