• Poroshenko’s decision not to sell his Ukrainian confectionary corporation comes back to bite him

    Amid a war that is going badly and a flailing economy, Ukrainian President Petro Poroshenko could get another bit of bad news next week when he finds his confectionary empire challenged in the courts by a British architecture firm. Despite an election campaign pledge made almost a year ago to sell Roshen, the billionaire president has hung on to the company.

    Poroshenko has spent much of the last dear ducking that promise by claiming it’s difficult to sell Roshen, but the company managed to multiply its profits nine times in 2014, reaping in $34.8 million, even as Ukraine’s economy crumbles. Poroshenko himself was estimated by Forbes to be worth $1.3 billion in 2014.

    However, those financial gains could come at a political price.

    Now British architect Philip Hudson and his firm D’Estate, also known as Jones East 8, are suing Roshen to the tune of $140,000 plus costs. The company’s hitherto untarnished reputation is about to come under the microscope, dragging the man that built it along for the ride.

    D’Estate accuse Roshen of refusing to pay for 40 percent of their designs, later used by the chocolate manufacturer to build a milk-processing plant in the city of Vinnytsya. And in doing so, Hudson says that the Roshen president and nine percent owner Vyacheslav Moskalevskiy told him the company believes in “mafia management.”

    • Et à la fin de l’article, un petit rappel des différents intérêts économiques conservés par le président Porochenko.

      Besides the confectionary business, Poroshenko owns a number of media outlets – representing a clear conflict of interest for their coverage. They include Channel 5, which he refuses to sell because of sentimental reasons, TRT TV, a station based in the western Ukrainian city of Truskavets and “Tvoye Radio” (Your Radio) in Drohobych in Lviv Oblast. He is also the owner of Odesa-based Pilot-Ukraine broadcasting company and NBM company, which includes Retro-FM radio station.

      A greater conflict of interest still is Poroshenko’s share in Bogdan Corporation, a company that provides facilities for the manufacture of buses and trolleybuses, passenger cars, trucks and commercial vehicles – many of which are commissioned for use by state institutions.

      In 2013 he claimed that he sold his share in the company. However, a recent investigation by the Insider news outlet found that Poroshenko is still is a stakeholder in the company. According to Ukraine’s stock market infrastructure development agency, Bogdan Corporation’s revenue is estimated at a whopping $1.05 billion.

    • C’est aussi pourquoi il ne veut pas que les plus riches paient beaucoup d’impôts. D’ailleurs, on peut voir Porochenko déjà lors de la première révolution orange, aux côtés de Iouchtchenko...ce dernier voulant se présenter aux présidentielles de novembre 2015. Le monde est petit.