Among those who have done so is Ukraine President Petro Poroshenko who appears to have sent assets of Poroshenko's confectionary empire Roshen offshore, where it can be sold without paying any taxes to Ukraine's government.
The Kiev Post reports that Poroshenko confidants started the registration process of an offshore company in the British Virgin Islands in August 2014, a time when Ukraine was engaged in the height of a political crisis.
Poroshenko, a billionaire was busy starting the offshore company as a way to evade paying taxes to the country in need of such income.
Hromadske TV reached out to Poroshenko staff about the matter but were redirected to Avellum Partners, a law firm which provided a recommendation letter to register the company.
“The actual transfer of assets to a trust requires compliance with a large number of legal formalities. A legal advisor is ensuring the compliance with these formalities at the moment,” Avellum Partners said.
According to the Kiev Post, that statement contradicts Poroshenko statement in January that he has already transferred his Roshen assets to a blind trust.
