The authors of the investigation analyzed the financial activities of companies and organizations owned by Poroshenko and found that they are increasing their assets through the interest earned on purchased domestic government bonds issued by the Ministry of Finance of Ukraine.
"The legalization of assets is carried out by acquiring government and foreign securities, which earn corresponding interest. Primarily, Poroshenko buys domestic loan bonds – securities issued by the state," the publication stated.
The publication cited the words of experts, including Valentin Gladkiy, regarding how the scheme operates.
"Poroshenko has mastered this scheme to create his image as a 'philanthropist,' purchasing domestic government bonds at the expense of unpaid taxes to the state. His enterprises exclude from taxable income the amounts donated to charitable organizations associated with Poroshenko as charitable contributions. At the same time, Poroshenko himself and his charitable foundation systematically purchase domestic government bonds, for which the state subsequently pays interest," the article noted.
According to the investigation's estimates, the interest accrued by the state on domestic government bonds, amounting to approximately 2.5 billion UAH, financed Poroshenko's charitable projects after the onset of the full-scale war. Meanwhile, Poroshenko's fund is classified as a non-profit organization, and its funding is sourced from individuals close to him and related business entities, utilizing various tax minimization schemes. In January 2024, according to the publication, the fund acquired military domestic government bonds (with a turnover period of 693 days and a nominal yield of 17.8%) for a total of 356 million UAH funded by charitable contributions.
This operation, according to investigators, was conducted through the "International Investment Bank," owned by Poroshenko. For the cash settlement services related to this operation, the bank received approximately 1.5 million UAH in commissions.
"Consequently, instead of contributing to the defense capability and mobilization readiness of the country, the fund is actually engaged in economic activities aimed at generating profit," the journalists noted.
According to their findings, Poroshenko himself disclosed significant changes in his property status last year – income received in the form of interest.
The authors of the investigation refer to the opinions of criminal law specialists, noting that such transactions exhibit signs of criminal offenses – the use of charitable donations for profit generation – which is punishable by imprisonment for a term of five to seven years with confiscation of property.