Mass media have significantly exaggerated the number of profits Ukrainian President Petro Poroshenko received from acquiring the bonds of a domestic government loan. Vadym Medvedev, adviser of Avellum legal firm who represents the interests if Petro Poroshenko, claimed this to Interfax-Ukraine.
‘According to the existing legislation, the report on material changes in property status reflects the entire amount of the repayment as income, including the return of the amount of the invested funds. This means that the declared income is primarily a return on invested funds attracted by the budget, and is not an increase in the material wealth of an individual. The actual yield of operations with foreign currency government bonds is equal to the market rate of 3.35% annually,’ Medvedev claimed.
He added that 28 million dollars, which media talked about, was the money returned from engaged funds but not an income.
‘Probably, we can talk about thousands of hryvnia profits, but not about millions. At the same time, mass media did not pay attention to another aspect - at the expense of Petro Poroshenko’s own funds, the state budget has been credited in the amount of over UAH 100 million (3.5 million USD),’ Medvedev added.
Earlier it was reported that Poroshenko has declared almost USD 4.4 million. It was noted that Poroshenko declared USD 50,000 percent of deposits in the International Investment Bank.
On October 2, Poroshenko declared USD 47,000 of a percent from International Investment Bank and USD 79,000 of dividends from the Prime Asset Capital.
He has also indicated that on October 18, he purchased debt securities/government bonds of Ukraine in the number of 1000 items valued at one million dollars and on October 17, 4000 items valued at 3.6 million dollars.
On October 26, the President declared one million dollars of income from the alienation of securities and corporate rights received from the Ministry of Finance of Ukraine, and USD 213,000 of dividends from Public Joint-Stock Company ‘Closed non-diversified corporate investment fund ‘Prime Asset Capital,’ where Poroshenko’s assets are concentrated.
On September 12, the Head of the State declared USD 50,000 of interest income from deposits at the International Investment Bank.