SpyLOG
25/7/2014 15:20
RIA Novosti

Russia

Russian prosecutors open fraud probe into Yukos bankruptcy

17:40 08/08/2006

MOSCOW, August 8 (RIA Novosti) - Russian prosecutors said Tuesday they had opened an investigation into an alleged act of embezzlement during the bankruptcy of Yukos Oil Company.

The Prosecutor General's Office said Yukos, which Moscow' Arbitration Court declared bankrupt August 1 after legal proceedings that had saddled the company with billions of dollars in back taxes, had secured a loan worth over $4.5 billion from Yukos Capital SARL, a Luxemburg-based subsidiary and major creditor, through legal entities affiliated with Yukos.

Investigators allege ex-Yukos officials masterminded a scheme to sell crude oil through trading companies Fargoil and Ratibor under their control, acting both as fictitious owners and buyers.

"Proceeds yielded from the scheme through affiliated entities were then offered as loans to Yukos and its subsidiaries," prosecutors said.

Investigators are currently studying documents in offices of the company and its subsidiaries.

  • Add to blog
  • Send to friend
  • Share

Add to blog

You may place this material on your blog by copying the link.

Publication code:

Preview:

Send by e-mail

All fields are required!




Leave a comment

    Рейтинг@Mail.ru  Rambler's Top100
    © 2014  RIA Novosti
    Some material may be inappropriate for those under 18