Journalists discover villa owned by Poroshenko in Spain Friday, November 11, 2016 2:31:00 PM

Reporters of the Skhemy (Schemes) program revealed Ukrainian President Petro Poroshenko’s villa in the Spanish city of Estepona.

The villa is registered as a possession of the Feruvita SL Company, formally listed in the declaration of the head of the state but the plot itself and the house separately were not declared.

The company bought the villa in the summer of 2008, when Poroshenko headed the NBU Council. In the financial statements, it is estimated at 4 million euros.

Villas belonging to Poroshenko’s close associates, Deputy of Ukraine’s National Security and Defense Council Igor Kononenko and Deputy Secretary Oleh Hladkivsky are located adjacent to Poroshenko’s villa.

The Presidential Administration explained that the enterprises where Poroshenko is an ultimate beneficiary possess property in the form of legal persons and that this was represented in the declaration.

"The enterprises where Petro Poroshenko is the ultimate beneficiary have overseas property such as factories, shops, warehouses, administrative buildings and houses. All this is in the form of legal entities specified in his declaration in accordance with the Law 'On Prevention of Corruption'", the Presidential Administration reported.

In keeping with the corruption law, Poroshenko himself submitted the main declaration of income an hour before deadline. In it, he indicated the right of ownership of over 100 companies in Ukraine, Russia, Poland, Spain, Cyprus, Hungary, Lithuania, China, the British Virgin Islands and the Netherlands; a salary of 121,054 UAH, interest of 12,375,404 UAH and investment income in the amount of 49,665,361 UAH. These earnings are equivalent to $4,585, $468,765 and $1,881,263 respectively at a rate of 26.4 UAH to one USD. The declaration also included a number of other properties and profits.

Later, Poroshenko additionally declared as income a percentage from the International Investment Bank for amounting to 1,928,594 UAH or $73,052.

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