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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsUkraine's Made-in-USA Finance Minister
http://readersupportednews.org/opinion2/277-75/27391-ukraines-made-in-usa-finance-ministerUkraines new Finance Minister Natalie Jaresko, a former U.S. State Department officer who was granted Ukrainian citizenship only this week, headed a U.S. government-funded investment project for Ukraine that involved substantial insider dealings, including $1 million-plus fees to a management company that she also controlled.
Jaresko served as president and chief executive officer of Western NIS Enterprise Fund (WNISEF), which was created by the U.S. Agency for International Development (U.S. AID) with $150 million to spur business activity in Ukraine. She also was cofounder and managing partner of Horizon Capital which managed WNISEFs investments at a rate of 2 to 2.5 percent of committed capital, fees exceeding $1 million in recent years, according to WNISEFs 2012 annual report.
The growth of that insider dealing at the U.S.-taxpayer-funded WNISEF is further underscored by the number of paragraphs committed to listing the related party transactions, i.e., potential conflicts of interest, between an early annual report from 2003 and the one a decade later.
In the 2003 report, the related party transactions were summed up in two paragraphs, with the major item a $189,700 payment to a struggling computer management company where WNISEF had an investment.
In the 2012 report, the section on related party transactions covered some two pages and included not only the management fees to Jareskos Horizon Capital ($1,037,603 in 2011 and $1,023,689 in 2012) but also WNISEFs co-investments in projects with the Emerging Europe Growth Fund [EEGF], where Jaresko was founding partner and chief executive officer. Jareskos Horizon Capital also managed EEGF.
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Ukraine's Made-in-USA Finance Minister (Original Post)
eridani
Dec 2014
OP
truedelphi
(32,324 posts)1. And Vice Presdient Biden's son is on the board of directors of an
Energy company that will prosper if the Ukraine is free from Russian authority.
djean111
(14,255 posts)2. Well, we need to spread "democracy", doncha know. n/t