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Jaresko, VP Biden and Excuse for Ukraine Coup
https://consortiumnews.com/2016/11/02/phony-corruption-excuse-for-ukraine-coup/
Phony ‘Corruption’ Excuse for Ukraine Coup (Nov 2, 1016 by Robert Parry) (part 2)
Accessing More Money
Ironically, passage of the law requiring the disclosures of what appears to be widespread corruption among Kiev’s officials unlocked millions of euros in new aid money from the European Union that then flowed to the same apparently corrupt officials.
However, because the Ukraine “regime change” in 2014 was partly orchestrated by U.S. and E.U. officials around the propaganda theme that elected President Yanukovych was corrupt – he had that sauna, after all – the continued corruption in the post-coup regime has been a rarely acknowledged, inconvenient truth. Indeed, some business people operating in Ukraine have complained that the corruption has grown worse since Yanukovych was overthrown.
Yet, only occasionally has that reality been allowed to peek through in the mainstream U.S. media, which prefers to deny that any “coup” occurred, to blame Russia for all of Ukraine’s problems, and to praise the post-coup “reforms” which targeted pensions, heating subsidies and other social programs for average citizens.
One of the rare deviations from the happy talk appeared in The Wall Street Journal on Jan. 1, 2016, observing that “most Ukrainians say the revolution’s promise to replace rule by thieves with the rule of law has fallen short and the government acknowledges that there is still much to be done.”
Actually, the numbers suggested something even worse. More and more Ukrainians rated corruption as a major problem facing the nation, including a majority of 53 percent in September 2015, up from 28 percent in September 2014, according to polls by International Foundation for Electoral Systems.
So, as the hard lives of most Ukrainians got harder, the elites continued to skim off whatever cream was left, including access to billions of dollars in the West’s foreign assistance that has kept the economy afloat.
There was, for instance, the case of Finance Minister Natalie Jaresko, who was regarded by many pundits as the face of Ukraine’s reform before departing last April after losing out in a power struggle.
Yet, Jaresko was hardly a paragon of reform. Prior to getting instant Ukrainian citizenship and becoming Finance Minister in December 2014, she was a former U.S. diplomat who had been entrusted to run a $150 million U.S.-taxpayer-funded program to help jump-start an investment economy in Ukraine and Moldova.
Jaresko’s compensation was capped at $150,000 a year, a salary that many Americans – let alone Ukrainians – would envy, but it was not enough for her. So, she engaged in a variety of maneuvers to evade the cap and enrich herself by claiming millions of dollars in bonuses and fees.
Ultimately, Jaresko was collecting more than $2 million a year after she shifted management of the Western NIS Enterprise Fund (WNISEF) to her own private company, Horizon Capital, and arranged to get lucrative bonuses when selling off investments, even as the overall WNISEF fund was losing money, according to official records.
For instance, Jaresko collected $1.77 million in bonuses in 2013, according to a WNISEF filing with the Internal Revenue Service. In her financial disclosure forms with the Ukrainian government, she reported earning $2.66 million in 2013 and $2.05 million in 2014, thus amassing a sizeable personal fortune while investing U.S. taxpayers’ money supposedly to benefit the Ukrainian people.
It didn’t matter that WNISEF continued to hemorrhage money, shrinking from its original $150 million to $89.8 million in the 2013 tax year, according to the IRS filing. WNISEF reported that the bonuses to Jaresko and other corporate officers were based on “successful” exits from some investments even if the overall fund was losing money.
Though Jaresko’s enrichment schemes were documented by IRS and other official filings, the mainstream U.S. media turned a blind eye to this history, all the better to pretend that Ukraine’s “reform” process was in good hands. [See Consortiumnews.com’s “How Ukraine’s Finance Minister Got Rich.”]