How Biden Took Stolen Money, Contributing to Ukraine’s Bankruptcy

Money was stolen from Ukrainians, then the same money was given back as a loan at huge interest rates, bringing Joe Biden‘s son into the business in order to bankrupt the country and take the land for no price. This was said on November 20th at a press conference by the non-factional people’s deputy Andrey Derkach, deputy from “Batkivshchyna” Aleksey Kucherenko, and deputy from “Servants of the People” Aleksandr Dubinsky.

They claim that the money to bribe the son of the former Vice President of the United States was actually stolen. “Biden received money, the source of which is not the successful activity of Burisma, brilliant business moves, or recommendations. It is the money of the citizens of Ukraine. It was obtained by criminal means,” said Andrey Derkach.

The ultimate goal of all this fraud, according to the deputies, is the bankruptcy of Ukraine in 2020-2021 through the formation of a pyramid of public debt. The deputies also demanded that the Presidents of Ukraine and the United States investigate these facts of corruption.

“President Zelensky should pick up the phone, call Trump, ask for help and cooperation in the fight against corruption, and fly to Washington. The issue of combating international corruption in Ukraine with the participation of citizens, businessmen, and officials of the United States should become key during the meeting of the two presidents,” said Derkach.

His words were actually confirmed by prosecutor Konstantin Kulik, who was investigating “Burisma” corruption schemes. “The money that went to ‘Burisma’ was of illegal origin. These two companies were managed and used by a man from the circle of Taras Kozak. So, the money that went to ‘Burisma’ is of illegal origin and further, according to our information, was transferred to the accounts of four persons, including Hunter Biden,” said Kulik on November 20th in an interview.

As a reminder, the former Minister of Ecology of Ukraine from the time of Viktor Yanukovych Nikolay Zlochevsky, who was also a benefactor of the “Burisma” gas company, in 2014 introduced a number of Western politicians to the board of directors of his company, which helped him to avoid accusations of corruption. Hunter Biden, son of former US Vice President Joe Biden, who received monthly large payments for “consulting services”, was among those politicians who served as a kind of shield for Zolchevsky’s business. As a consequence of such shielding, criminal cases against Zolchevsky and his business were closed under Poroshenko, and Prosecutor General Viktor Shokin, who was investigating them, “resigned” at the personal request of Joe Biden, which he boasted about in the American media. This case is now being used in the election fight between American Republicans and Democrats, and Donald Trump, according to US media reports, would very much like to get some dirt from Kiev on Biden Sr. The Democrats, who cannot deny that Hunter Biden received money from “Burisma”, would like to present this case as regular business, but by saving Joe Biden, they are forced to save Zlochevsky as well.

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According to deputy Derkach, the Prosecutor General’s Office of Ukraine recently declared suspicion to Nikolay Zlochevsky, although the head of the department Ruslan Ryaboshapka previously denied the existence of any cases against him and the “Burisma” company. Aleksandr Dubinsky responded by saying that the Prosecutor General “is not only incompetent, but also lying”, and the suspicion against Zlochevsky, where Yanukovych, Gontarev, and Poroshenko are named as his accomplices, was sent to the suspect as early as November 14th and there were no decisions to suspend the case. It is about laundering money withdrawn from Ukraine through a fund close to the United States Democratic Party. In general, we are talking about $7.4 billion, from which only a “small fraction” was used to bribe Western politicians.

“Last week, on November 14th, invisible to the media, the Prosecutor-General’s Office announced a new suspicion to the notorious owner of ‘Burisma’, former Minister of Ecology Zlochevsky. According to the suspicion, the ‘family’ of Yanukovych is charged, in particular, with legalising (laundering) income obtained by criminal means, through the operations of the investment fund ‘Franklin Templeton Investments’ to buy external state loan bonds with a total value of $7.4 billion,” said Derkach at the press conference. The founder of the foundation, John Templeton Jr., according to him, was one of the main sponsors of the campaign of former US President Barack Obama.

The deputies stressed that, according to the investigation, this was money criminally received by Yanukovych’s family and invested in the purchase of Ukraine’s debt obligations in 2013-2014. Then, through the Franklin Templeton Fund, these funds were again brought to Ukraine to buy domestic government bonds (DGB). According to Dubinsky, the whole scheme is outlined in the suspicion against Zlochevsky. Then Petro Poroshenko picked up the same scheme, increasing the volume of public debt. The investment of funds stolen from the state in debt obligations was carried out, according to Dubinsky, a man of Poroshenko and the former head of the National Bank Valery Gontarev, now hiding in London.

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The principle of this scheme is that with the assistance of American funds, money washed and sent out of the country is legalised and invested in government bonds at 6-8% in dollars and 15-17% in hryvnia. These commitments are growing at an alarming pace, leading to the bankruptcy of the country’s economy. Prosecutor Konstantin Kulik stated in an interview that Ukraine takes IMF loans to settle these debt obligations, and IMF loans, as is known, will have to be returned with interest.

As Aleksandr Dubinsky stressed at the press conference, 40% of the current state budget goes towards the payment of the state debt of Ukraine, including the repayment of DGB at inflated interest rates. Simply put, the money was first stolen from Ukrainian citizens, and then the money was given on credit at an astronomical interest rate.

A system of pumping out financial resources from the country at colossal interest rates (14-16% per annum) has been created. So we’re paying interest on the money that was stolen from us. When 440 billion hryvnia of the 2020 state budget is used to pay off the state debt – this is the last step before default. Ukraine is becoming a bankrupt country. This will happen either at the end of 2020, or at the beginning of 2021, Dubinsky said.

The current process of opening the land market is connected to the same scheme, he said. As is known, there is nothing to take from bankruptcy, except valuable property, and Ukraine has little left of such “property”, and has mostly black soil.

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“Bonds are such a financial instrument by which the state owes all its property when paying off the DGB. And if the land market is opened, the state will have no other property, such as land,” said Dubinsky.

At the press conference, the deputies initiated the establishment of an investigation commission to investigate these schemes of international corruption in order to suspend payments on suspicious debts. “There are chances, enormous chances of it having an effect: the amounts in billions of dollars that we pay on the state debt are recognised as money laundering and a refund to the state budget is demanded. Or at least a demand is made to stop payments on these resources while the investigation is under way,” explained Aleksandr Dubinsky.

It should be noted that deputy Aleksandr Dubinsky is considered to be one of the leaders of the Igor Kolomoisky‘s group in the “Servants of the People” faction. Andrey Derkach has previously claimed that during Barack Obama’s presidency the US put pressure on Ukrainian law enforcement bodies to release dirt on Hillary Clinton’s rival Donald Trump. Thus, the statements of the deputies can also be considered a certain curtsy of Kolomoisky towards the current head of the White House. On the other hand, the intention to suspend payments on state debt is unlikely to please international bankers and the IMF, who President Zelensky clearly will not dare to oppose.

Dmitry Kovalevich

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