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You're reading: President calls practice corrupt even as son is biggest recipient
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Even President Viktor Yanukovych has admitted that billions of dollars disappear yearly due to corruption in the awarding of government contracts and other spending.

It is not uncommon for billions of dollars of taxpayer money to go to companies whose beneficiary owners are hidden behind layers of offshore jurisdictions. The ownership often trail ends in Belize, arguably the most notoriously non-transparent offshore haven.

According to Forbes’s online database of public procurement champions, the company Premier Leasing this year won the most bids to garner Hr 5.1 billion ($637.5 million) worth of public procurement deals.

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