Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Former Bashneft CEO Abused Father's Position
30.09.2014 22:39
Former Bashneft CEO Abused Father's Position
Photo Credit: http://www.business-gazeta.ru

Former Bashneft CEO Ural Rakhimov has abused his father’s position as the region’s governor to embezzle the oil giant’s shares, says a ruling of the Moscow City Court.

      In 2002-2006, Ural Rakhimov “got hold of controlling stakes in a number of companies” using his father’s administrative position, says a ruling of the court.

      Earlier, Russia-IC reported that the Commercial Court of Moscow had arrested Bashneft’s stocks owned by Russia’s largest publicly traded holding Sistema.

      The prosecutors insist the privatization deal was fraught with violations and that the stocks must be returned to the state.

      Sistema purchased Bashneft from the son of Bashkortostan’s former leader. According to the police, that son privatized the assets illegally and laundered the funds by selling this major oil company to Yevtushenkov’s Sistema at what they claim was a lower price.

      According to the corporate press release, “Sistema's management believes that the acquisition of BashTEK group was legal and transparent. The company is fully cooperating with the investigation and intends to use all legal means to defend its position.”

      Rumours around the detention include Rosneft’s push to buy Bashneft at a cheap price to ramp up its production capabilities amid sanctions limiting Igor Sechin’s plans to develop offshore fields.

      Rosneft has strongly rejected the allegations but it is still very much in the news, with many comparing Yevtushenkov to another oligarch, Mikhail Khodorkovsky.

       




Author: Mikhail Vesely

Tags: Bashneft Yevtushenkov AFK Sistema   

Next Previous


You might also find interesting:

The Number of Sentences Imposed by Russian Courts with Regards to Economic Crimes has Increased by 20%
16.05.2019
AliExpress Russia will be Launched in 2019
20.01.2019
Amendments to the Law On Currency Regulation and Currency Control have been Drafted
09.11.2018
The Share of SMEs in the Russian Economy Makes 21.9%
07.02.2019
Russia Ranked 27th in the Annual Bloomberg Innovation Index
28.01.2019







Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
Russian Cinema  Historical Exhibitions  Handmade  Krasnodar  Russian business  Russian tourism  Sticky Jam Festival  Ukraine crisis  Festivals in Moscow  All-Russian Museum of Handcrafts and Folk Art  Safari Park of Gelendzhik  economic crisis  Islam in Russia  Sheremetyevo  The Romanov Family  Crimea  Hot Cool Yours  Russian Games  NTV TV Channel  Moscow International Marathon   Ekaterina Melnikova  Krasnodar region  Russian Bears  Chelyabinsk Region  Moscow  Internet Zone  Pskov airport  Zhanna Bichevskaya  travel to Russia  Exhibitions in Moscow  Victor Titov  Sverdlovsk region  Vitas  Kurgan  Russian Internet blacklist  Treasures of East   Leningrad Region  Russian culture  St. Petersburg  Mercedes-Benz Fashion Week Russia  Sochi Airport  Far East  education  Sokolniki Park  Wooden Architecture  Ukraine  car production in Russia  Russian women  Russian regions  Russian banks 


Travel Blogs
Top Traveling Sites