Ukraine’s Finance Minister Natalie Jaresko collected at least $1.77 million in bonuses from a U.S.-taxpayer-funded investment project that she ran even as it was losing money, a sign that her image as a paragon of public-interest “reform” may not be all that it’s cracked up to be, reports Robert Parry.Parry reports:
Before becoming Ukraine’s Finance Minister last December, Natalie Jaresko collected $1.77 million in bonuses from a U.S.-taxpayer-financed investment fund where her annual compensation was supposed to be limited to $150,000, according to financial documents filed with the U.S. Internal Revenue Service this year.
The near 12-fold discrepancy between the compensation ceiling and Jaresko’s bonuses, paid in 2013, was justified in the IRS filing from the Jaresko-led Western NIS Enterprise Fund (WNISEF) by drawing a distinction between getting paid directly from the $150 million U.S. government grant that created the fund and the money from the fund’s “investment sales proceeds,” which were treated as fair game for extracting bonuses far beyond the prescribed compensation level.Consortium News
Using this supposed loophole, Jaresko and some of her associates enriched themselves by claiming money generated from U.S. taxpayers’ dollars while avoiding any personal financial risks. She and other WNISEF officers collected the bonuses from what they deemed “profitable” exits from some investments even if the overall fund was losing money and shrinking, as it apparently was in recent years.
How Ukraine’s Finance Chief Got Rich
Robert Parry
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