Translated by Ollie Richardson for Fort Russ
4th April, 2016
Transparency International believes that a possible non-disclosed contribution to the authorized capital of an offshore company by the President of Ukraine Petro Poroshenko is a violation of anti-corruption standards, and the establishment of his business violates the Constitution. The organization urged the Ukrainian leader to submit a truthful electronic declaration.
Yesterday, German Suddeutsche Zeitung published alleged documents from the Panamanian law firm Mossack Fonseca, which, according to the newspaper, implicate a number of world leaders and their entourage of being involvement in offshore schemes. The published SZ article mentions, in particular, Poroshenko. The authenticity of the documents has not been officially confirmed. Earlier, the parliamentary faction of the Radical party announced their intention to initiate the beginning of a procedure to impeach Poroshenko.
In the investigation by Ukrainian journalists, which was previously published on the website of the Ukrainian “Public TV”, it is also claimed that Poroshenko had created an offshore company (BVI) in the British Virgin Islands with the intention to restructure the Roshen confectionery Corporation, but did not specify information about it in the income statement.
“Failure to declare contribution to the authorized capital of an offshore company is a violation of anti-corruption standards. And the establishment of his business during the execution of Presidential functions is a direct violation of the Constitution”, — said the Executive Director of Transparency International Ukraine – Oleksiy Khmara.
He urged the Ukrainian authorities to implement the promised electronic Declaration.
“Ukrainian society is waiting for the urgent launch of the e-Declaration system, because it provides the full disclosure of assets and incomes of officials, including those abroad, and liability for deliberate false declarations, including criminal. Therefore, we, Transparency International, urge the National Agency for Corruption Prevention (NACP) to start the system as soon as possible. Its value is especially important in light of the scandal surrounding the offshore campaign of President Petro Poroshenko,” — said Khmara to the press service of Transparency International.
He also urged the President to submit truthful information in his electronic declaration. “It must be filed within 60 days after a special NACP decision about the format of the electronic Declaration”, — said Khmara.