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The flywheel is spinning

04.07.2016
The flywheel is spinning

Arrests of governmental officials have become regular in certain regions. One of the main issues many officials are concerned about is the practice of creating shadow money funds, sometimes in cash, under different authorities. Igor Pastukhov, member of the presidential Human Rights Council and adviser of YUST Law Firm, shared his opinion on establishment of informal funds: "These funds cannot be called legal, as any financial reserves should be formed based on statutory documents. However, the practice of forming such funds cannot be called extraordinary - they arise for payment of bonuses to officials, reception of visiting dignitaries, and in some cases actually for resolving social issues".


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