President Petro Poroshenko’s Ukrainian company is alleged to have transferred money to a Cypriot offshore firm despite there being a National Bank of Ukraine ban on such transactions, according to an investigation aired on Ukrainian television late on May 18.The report follows scandals over Poroshenko’s failure to declare British Virgin Islands-registered Prime Asset Partners Ltd. and revelations about offshore companies owned by Poroshenko’s political allies. Documents on the offshore firms were released as part of the Panama Papers, a massive leak of information about offshore companies worldwide.

Poroshenko has so far failed to provide a convincing explanation on why he did not declare Prime Asset Partners Ltd. He has also been accused of establishing the firm to evade taxes, which he denies.