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worth checking out for any chelsea fans.
http://www.ananova.com/news/story/sm_881439.html
http://www.ananova.com/news/story/sm_881439.html
Yukos
- Thread starter ted_bloody_maul
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ted maul (are you Darth's brother?): That link doesn't seem to work.
Emps
Emps
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sorry. just try 'stephen curtis - yukos - helicopter crash' in a search engine some other sites should have it now.
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<headline>Russia says Swiss banks freeze $5 bln YUKOS cash</headline>
Russia says Swiss banks freeze $5 bln YUKOS cashReuters, 03.11.04, 10:09 AM ET 'Our Swiss colleages arrested on our request accounts of more than 20 people,' spokeswoman Natalia Vishnyakova said. Swiss prosecutors were not immediately available for comments. 'The total is 6.2 billion Swiss Francs ($4.84 billion).' She said that YUKOS's main owner and former chief executive, Mikhail Khodorkovsky, and other key owners such as Platon Lebedev, Mikhail Brudno and Leonid Nevzlin were among those whose accounts were frozen. Khodorkovsky was arrested in October on charges of fraud and tax evasion, a move that analysts say was orchestrated by the Kremlin to punish the billionaire for political activities. Copyright 2004, Reuters News Service
http://www.forbes.com/home_asia/newswire/2004/03/11/rtr1294974.html
Russia says Swiss banks freeze $5 bln YUKOS cashReuters, 03.11.04, 10:09 AM ET 'Our Swiss colleages arrested on our request accounts of more than 20 people,' spokeswoman Natalia Vishnyakova said. Swiss prosecutors were not immediately available for comments. 'The total is 6.2 billion Swiss Francs ($4.84 billion).' She said that YUKOS's main owner and former chief executive, Mikhail Khodorkovsky, and other key owners such as Platon Lebedev, Mikhail Brudno and Leonid Nevzlin were among those whose accounts were frozen. Khodorkovsky was arrested in October on charges of fraud and tax evasion, a move that analysts say was orchestrated by the Kremlin to punish the billionaire for political activities. Copyright 2004, Reuters News Service
http://www.forbes.com/home_asia/newswire/2004/03/11/rtr1294974.html
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<headline>YUKOS shareholder to fund new Russia liberal party</headline>
YUKOS shareholder to fund new Russia liberal partyReuters, 03.25.04, 8:41 AM ET Leonid Nevzlin, who has fled to Israel to escape tax evasion charges, will fund a party being formed by defeated Russian presidential challenger Irina Khakamada, a staunch critic of President Vladimir Putin. Prosecutors have arrested several key YUKOS shareholders and impounded a large stake in the firm. Analysts see their actions as a Kremlin attempt to punish the company's top shareholders and former head Mikhail Khodorkovsky for their political activities. But Nevzlin was not deterred. 'I want to help Russia move along the path of democracy, therefore I am ready to support the democratic party being founded by Irina Khakamada,' Nevzlin told Interfax by telephone from Israel. 'I think I will be one of many who will be ready to support this initiative, therefore I am ready only to provide a part of the financial means necessary for founding a party.' Khakamada took nearly four percent of the votes in the presidential election, which Putin won overwhelmingly. She was the sole representative of the pro-Western liberal parties routed in parliamentary polls late last year.
http://www.forbes.com/home_asia/newswire/2004/03/25/rtr1311542.html
YUKOS shareholder to fund new Russia liberal partyReuters, 03.25.04, 8:41 AM ET Leonid Nevzlin, who has fled to Israel to escape tax evasion charges, will fund a party being formed by defeated Russian presidential challenger Irina Khakamada, a staunch critic of President Vladimir Putin. Prosecutors have arrested several key YUKOS shareholders and impounded a large stake in the firm. Analysts see their actions as a Kremlin attempt to punish the company's top shareholders and former head Mikhail Khodorkovsky for their political activities. But Nevzlin was not deterred. 'I want to help Russia move along the path of democracy, therefore I am ready to support the democratic party being founded by Irina Khakamada,' Nevzlin told Interfax by telephone from Israel. 'I think I will be one of many who will be ready to support this initiative, therefore I am ready only to provide a part of the financial means necessary for founding a party.' Khakamada took nearly four percent of the votes in the presidential election, which Putin won overwhelmingly. She was the sole representative of the pro-Western liberal parties routed in parliamentary polls late last year.
http://www.forbes.com/home_asia/newswire/2004/03/25/rtr1311542.html
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<headline>Business tycoon 'in fear for his life' before crash</headline>
Mr Curtis, managing director of Menatap, a 30 billion-dollar holding company with interests in the oil and banking industries, spoke of his concerns about business rivals in Russia, including some with close links to the Kremlin, it was reported in The Times.
The paper quotes a source within Menatap who claimed Mr Curtis was 'a frightened man who knew everything'.
It is also alleged that he had begun to take extra security precautions and told only his closest aides about his travel plans.
He died alongside his pilot, Max Radford, 34, when the helicopter they were travelling in crashed near Bournemouth airport on March 4.
He was returning to Pennsylvania Castle, his home on Portland, when the helicopter plunged into the ground. Air accident investigators carried out a preliminary investigation but say it may be months before they can say for certain what happened because so little wreckage survived the ensuing fire.
Mr Curtis, 45, was the closest confidante of jailed Mikhail Khodorkovsky, former head of Yukos Oil.
He was arrested last October on charges of fraud and tax evasion. He was a critic of Russian president Vladimir Putin and the Kremlin is believed to be keeping a close eye on the accident investigation.
It has been claimed that Mr Khodorkovsky, believed to be Russia's richest man, made Mr Curtis the sole signatory of their company's extensive bank accounts.
An inquest into the death of Mr Curtis was to due to be opened today.
The Augusta 109 helicopter was believed to have been en route from Battersea Heliport in south west London when it crashed in a field near Pitt House Lane, at 7.42pm on March 3.
The inquest was due to be opened and adjourned at East Dorset and Poole Coroner's Court in Bournemouth.
A full inquest was expected to be held at a later date.
http://www.thisisweymouth.co.uk/dorset/weymouth/news/WEYMOUTH_NEWS_NEWS2.html
Mr Curtis, managing director of Menatap, a 30 billion-dollar holding company with interests in the oil and banking industries, spoke of his concerns about business rivals in Russia, including some with close links to the Kremlin, it was reported in The Times.
The paper quotes a source within Menatap who claimed Mr Curtis was 'a frightened man who knew everything'.
It is also alleged that he had begun to take extra security precautions and told only his closest aides about his travel plans.
He died alongside his pilot, Max Radford, 34, when the helicopter they were travelling in crashed near Bournemouth airport on March 4.
He was returning to Pennsylvania Castle, his home on Portland, when the helicopter plunged into the ground. Air accident investigators carried out a preliminary investigation but say it may be months before they can say for certain what happened because so little wreckage survived the ensuing fire.
Mr Curtis, 45, was the closest confidante of jailed Mikhail Khodorkovsky, former head of Yukos Oil.
He was arrested last October on charges of fraud and tax evasion. He was a critic of Russian president Vladimir Putin and the Kremlin is believed to be keeping a close eye on the accident investigation.
It has been claimed that Mr Khodorkovsky, believed to be Russia's richest man, made Mr Curtis the sole signatory of their company's extensive bank accounts.
An inquest into the death of Mr Curtis was to due to be opened today.
The Augusta 109 helicopter was believed to have been en route from Battersea Heliport in south west London when it crashed in a field near Pitt House Lane, at 7.42pm on March 3.
The inquest was due to be opened and adjourned at East Dorset and Poole Coroner's Court in Bournemouth.
A full inquest was expected to be held at a later date.
http://www.thisisweymouth.co.uk/dorset/weymouth/news/WEYMOUTH_NEWS_NEWS2.html
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I just saw a long report on this on Channel 4's news and it is very shady indeed. It appears Curtis was increasingly worried for his life and had just signed up with the NCIS (National Criminal Intelligence Service) and an informant but only had a chance to meet his handler twice before the crash. However, foul play was ruled out last month so:
http://news.scotsman.com/latest.cfm?id=2718411
I suspect more information will emerge as things progress.
Emps
http://news.scotsman.com/latest.cfm?id=2718411
I suspect more information will emerge as things progress.
Emps
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<headline>Yukos shareholder hunted on murder charges</headline>
A Moscow court on Monday issued an arrest warrant on charges of murder for Leonid Nevzlin, a key shareholder in Yukos and one of the closest associates of Mikhail Khodorkovsky, the oil company's former chief executive.
Mr Nevzlin fled to Israel last year as investigations into Yukos started to intensify and now has an Israeli passport. Earlier this year he was charged with tax evasion and embezzlement.
Russian prosecutors have now accused him of organising contract killings and assassination attempts on several people, including Yukos's competitors.
The fresh allegations come at a crucial time for Yukos and Mr Khodorkovsky. The company could be dismantled and forced into bankruptcy in weeks if the Ministry of Justice proceeds with the sale of its main production asset to settle a $3.4bn tax bill.
Mr Khodorkovsky is standing trial for fraud and tax evasion and faces a 10-year prison sentence if found guilty. He entrusted Mr Nevzlin with his Yukos stake on his arrest.
The new charges against Mr Nevzlin further diminished investors' hopes of a deal between the company and the government. Yukos shares fell more than 20 per cent to $4.20 on Monday, and have fallen nearly 50 per cent since last week.
The prosecutor general's office said it had gathered 'enough evidence . . . that . . . Mr Nevzlin conspired with A[leksei] Pichugin, the head of the internal and economic security department of Yukos, to kill particular individuals who represented a threat to the company as well as to Mr Nevzlin and Mr Pichugin'.Mr Pichugin, a former KGB operative, was arrested more than a year ago and accused of murder and attempted murder. Prosecutors now say he acted on Mr Nevzlin's instructions. They say Mr Nevzlin had arranged for Mr Pichugin to kill a married couple because they feared the husband could blackmail them with evidence of other crimes. The couple's bodies were never found.
Mr Nevzlin is also accused of organising an attempt to kill Yevgeny Rybin, the head of East Petroleum, who allegedly threatened Yukos with international law suits for a breach of contract. Mr Rybin escaped the attempt but his driver was killed.
An Israeli justice ministry spokesman said an extradition treaty existed between Israel and Russia and that, if a request were received from the Moscow authorities, police would be ordered to locate the suspect.
Source
A Moscow court on Monday issued an arrest warrant on charges of murder for Leonid Nevzlin, a key shareholder in Yukos and one of the closest associates of Mikhail Khodorkovsky, the oil company's former chief executive.
Mr Nevzlin fled to Israel last year as investigations into Yukos started to intensify and now has an Israeli passport. Earlier this year he was charged with tax evasion and embezzlement.
Russian prosecutors have now accused him of organising contract killings and assassination attempts on several people, including Yukos's competitors.
The fresh allegations come at a crucial time for Yukos and Mr Khodorkovsky. The company could be dismantled and forced into bankruptcy in weeks if the Ministry of Justice proceeds with the sale of its main production asset to settle a $3.4bn tax bill.
Mr Khodorkovsky is standing trial for fraud and tax evasion and faces a 10-year prison sentence if found guilty. He entrusted Mr Nevzlin with his Yukos stake on his arrest.
The new charges against Mr Nevzlin further diminished investors' hopes of a deal between the company and the government. Yukos shares fell more than 20 per cent to $4.20 on Monday, and have fallen nearly 50 per cent since last week.
The prosecutor general's office said it had gathered 'enough evidence . . . that . . . Mr Nevzlin conspired with A[leksei] Pichugin, the head of the internal and economic security department of Yukos, to kill particular individuals who represented a threat to the company as well as to Mr Nevzlin and Mr Pichugin'.Mr Pichugin, a former KGB operative, was arrested more than a year ago and accused of murder and attempted murder. Prosecutors now say he acted on Mr Nevzlin's instructions. They say Mr Nevzlin had arranged for Mr Pichugin to kill a married couple because they feared the husband could blackmail them with evidence of other crimes. The couple's bodies were never found.
Mr Nevzlin is also accused of organising an attempt to kill Yevgeny Rybin, the head of East Petroleum, who allegedly threatened Yukos with international law suits for a breach of contract. Mr Rybin escaped the attempt but his driver was killed.
An Israeli justice ministry spokesman said an extradition treaty existed between Israel and Russia and that, if a request were received from the Moscow authorities, police would be ordered to locate the suspect.
Source
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<headline>Roman Abramovich investigated for missing $4.8 billion</headline>
Chelsea boss and one of Britain's wealthiest men, Roman Abramovich, has been named as a key suspect in the misuse of a $4.8 billion loan from the IMF to Russia through his company Runicom, the trading arm of his oil company Sibneft. The name of the Chelsea Football Club owner appears three times in an official report from the aborted Swiss investigation, and his companies are mentioned on a dozen occasions. The Swiss maintain that the case was being elaborately covered up by Russia, who created a network of financial reserves using a network of banks overseas, controlled by Roman Abromovitch's company Runicom. The theory was heightened when the leading invesitgative magistrate in the case, Laurent Kasper-Ansermet, was beaten unconscious in St. Petersburg during a visit to Russia. An investigator stated in a 2000 report that the 'slush funds' appear to flow illegally through an account in Geneva connected both to former President Boris Yeltsin and Runicom. Despite these rumours, a spokesperson for Abromovich has said that 'charges against Runicom are as baseless now as they were when the case was dropped years ago' and that statements from the IMF had shown that 'they were satisfied with an audit by PricewaterhouseCoopers that determined that all of the IMF funds from 1998 were used properly'
http://www.gq-magazine.co.uk/daily_news/default.asp?nxtStory=19362
Chelsea boss and one of Britain's wealthiest men, Roman Abramovich, has been named as a key suspect in the misuse of a $4.8 billion loan from the IMF to Russia through his company Runicom, the trading arm of his oil company Sibneft. The name of the Chelsea Football Club owner appears three times in an official report from the aborted Swiss investigation, and his companies are mentioned on a dozen occasions. The Swiss maintain that the case was being elaborately covered up by Russia, who created a network of financial reserves using a network of banks overseas, controlled by Roman Abromovitch's company Runicom. The theory was heightened when the leading invesitgative magistrate in the case, Laurent Kasper-Ansermet, was beaten unconscious in St. Petersburg during a visit to Russia. An investigator stated in a 2000 report that the 'slush funds' appear to flow illegally through an account in Geneva connected both to former President Boris Yeltsin and Runicom. Despite these rumours, a spokesperson for Abromovich has said that 'charges against Runicom are as baseless now as they were when the case was dropped years ago' and that statements from the IMF had shown that 'they were satisfied with an audit by PricewaterhouseCoopers that determined that all of the IMF funds from 1998 were used properly'
http://www.gq-magazine.co.uk/daily_news/default.asp?nxtStory=19362
A
Anonymous
Guest
The Yukos sale- Just who is the Baikal Finance Group?
The Yukos auction has been won by a completely unknown entity, the Baikal Finance Group. Speculation is now rife as to who they actually are. The Russian govenment? Gazprom? It's a bit of a mystery...
Mystery over Yukos auction winner
The fate of Russia's Yuganskneftegas - the oil firm sold to a little-known buyer on Sunday - is the subject of frantic speculation in Moscow.
Baikal Finance Group emerged as the auction winner, agreeing to pay 260.75bn roubles (£4.8bn; $9.4bn).
Russia's newspapers claimed that Baikal was a front for gas monopoly Gazprom, which had been expected to win.
The sale has destroyed Yukos, once the owner of Yuganskneftegas, said founder Mikhail Khodorkovsky.
"Yuganskneftegas has been sold in the best traditions of the 90s," the Interfax news agency quoted Mr Khodorkovsky as saying via his lawyers.
"The authorities have made themselves a wonderful Christmas present - Russia's most efficient oil company has been destroyed."
Nothing certain
It is a front for somebody but not necessarily for Gazprom
Oleg Maximov, Troika Dialog
Gazprom had been expected to win the auction but is thought to have failed to get finance for the deal after a US court injunction barred it from taking part.
Last week, Yukos filed for Chapter 11 bankruptcy protection in the US in a last-ditch attempt to hang on to Yuganskneftegas, which accounts for 60% of its output.
A US judge banned Gazprom from taking part in the auction and barred international banks from providing the firm with cash.
"They screwed up the financing," said Ronald Smith, an analyst at Renaissance Capital in Moscow. "And Gazprom doesn't have this sort of money lying around."
Mystery
Gazprom has denied that it is behind the purchase.
"It is a front for somebody but not necessarily for Gazprom," said Oleg Maximov, an analyst at Troika Dialog in Moscow. "We don't know if this company is linked 100% to Gazprom.
"We tried to find it, but we couldn't and as far as I know, the papers had the same result."
The sale has however bought time for Gazprom to raise the money needed for the purchase, analysts said.
One scenario is that Baikal will not pay when it is supposed to in two weeks time, putting Yuganskneftegas back in the hands of bailiffs and back within the reach of Gazprom.
Yukos is not planning on letting go of its unit without a fight and has threatened legal action against any buyer.
Menatep, Yukos main shareholders' group, also is preparing to file a lawsuit against Baikal, the Itar-Tass news agency reported.
Yukos claims that it is being punished for the political ambitions of its founder, Mikhail Khodorkovsky, who is now in jail facing separate fraud charges.
It has been hit with more than $27bn in taxes and fines and many observers now say that the break-up of the firm that accounts for 20% of Russia's oil output is inevitable.
Cracks
Yukos already seems to be creaking and its day-to-day operations are under pressure.
Reuters reported on Monday that Yukos had defaulted on two shipments of December crude.
A trader was quoted as saying that "the situation is very uncertain. We don't really know what is going to happen".
During the build-up to Sunday's auction,Yukos had repeatedly warned that it would eventually run out of money and be unable to pay bills after the government froze its bank accounts.
The firm also said that state actions, such as the seizure of Yukos assets and raids on company offices, would compromise its operations.
On top of that, a number of senior executives have left Russia in recent weeks, spooked by the arrest of a number of company employees.
Story from BBC NEWS:
http://news.bbc.co.uk/1/hi/business/4110753.stm
The Yukos auction has been won by a completely unknown entity, the Baikal Finance Group. Speculation is now rife as to who they actually are. The Russian govenment? Gazprom? It's a bit of a mystery...
Mystery over Yukos auction winner
The fate of Russia's Yuganskneftegas - the oil firm sold to a little-known buyer on Sunday - is the subject of frantic speculation in Moscow.
Baikal Finance Group emerged as the auction winner, agreeing to pay 260.75bn roubles (£4.8bn; $9.4bn).
Russia's newspapers claimed that Baikal was a front for gas monopoly Gazprom, which had been expected to win.
The sale has destroyed Yukos, once the owner of Yuganskneftegas, said founder Mikhail Khodorkovsky.
"Yuganskneftegas has been sold in the best traditions of the 90s," the Interfax news agency quoted Mr Khodorkovsky as saying via his lawyers.
"The authorities have made themselves a wonderful Christmas present - Russia's most efficient oil company has been destroyed."
Nothing certain
It is a front for somebody but not necessarily for Gazprom
Oleg Maximov, Troika Dialog
Gazprom had been expected to win the auction but is thought to have failed to get finance for the deal after a US court injunction barred it from taking part.
Last week, Yukos filed for Chapter 11 bankruptcy protection in the US in a last-ditch attempt to hang on to Yuganskneftegas, which accounts for 60% of its output.
A US judge banned Gazprom from taking part in the auction and barred international banks from providing the firm with cash.
"They screwed up the financing," said Ronald Smith, an analyst at Renaissance Capital in Moscow. "And Gazprom doesn't have this sort of money lying around."
Mystery
Gazprom has denied that it is behind the purchase.
"It is a front for somebody but not necessarily for Gazprom," said Oleg Maximov, an analyst at Troika Dialog in Moscow. "We don't know if this company is linked 100% to Gazprom.
"We tried to find it, but we couldn't and as far as I know, the papers had the same result."
The sale has however bought time for Gazprom to raise the money needed for the purchase, analysts said.
One scenario is that Baikal will not pay when it is supposed to in two weeks time, putting Yuganskneftegas back in the hands of bailiffs and back within the reach of Gazprom.
Yukos is not planning on letting go of its unit without a fight and has threatened legal action against any buyer.
Menatep, Yukos main shareholders' group, also is preparing to file a lawsuit against Baikal, the Itar-Tass news agency reported.
Yukos claims that it is being punished for the political ambitions of its founder, Mikhail Khodorkovsky, who is now in jail facing separate fraud charges.
It has been hit with more than $27bn in taxes and fines and many observers now say that the break-up of the firm that accounts for 20% of Russia's oil output is inevitable.
Cracks
Yukos already seems to be creaking and its day-to-day operations are under pressure.
Reuters reported on Monday that Yukos had defaulted on two shipments of December crude.
A trader was quoted as saying that "the situation is very uncertain. We don't really know what is going to happen".
During the build-up to Sunday's auction,Yukos had repeatedly warned that it would eventually run out of money and be unable to pay bills after the government froze its bank accounts.
The firm also said that state actions, such as the seizure of Yukos assets and raids on company offices, would compromise its operations.
On top of that, a number of senior executives have left Russia in recent weeks, spooked by the arrest of a number of company employees.
Story from BBC NEWS:
http://news.bbc.co.uk/1/hi/business/4110753.stm
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- May 23, 2003
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Abramovich 'had role in fall of Yukos'
ROMAN ABRAMOVICH played a major role in the downfall of Russian oil giant Yukos, one of the company's main shareholders claimed in an amazing outburst today.
Leonid Nevzlin, who fled to Israel to escape the fallout from the Yukos saga, said in a Russian newspaper that the Kremlin's attack on the business was planned in association with the Chelsea FC owner.
The claim was slammed by Abramovich's official spokesman as a 'far-fetched conspiracy theory'.
Analysts are convinced Khodorkovsky's political ambitions led to his downfall but Nevzlin said Sibneft's plan to merge with Yukos was a ruse to take control.
Nevzlin reportedly plans to sue 'a group of people associated with Yukos' destruction'. He also hit out at Dmitry Medvedev, head of the Presidential administration, and Finance Minister Alexei Kudrin.
His attack is likely to be seen as a defensive tactic against repeated attempts by the Russian prosecutor's office to have him extradited. He has been charged with economic crimes, tax evasion and fraud.
http://www.thisislondon.com/news/busine ... 04?source=
ROMAN ABRAMOVICH played a major role in the downfall of Russian oil giant Yukos, one of the company's main shareholders claimed in an amazing outburst today.
Leonid Nevzlin, who fled to Israel to escape the fallout from the Yukos saga, said in a Russian newspaper that the Kremlin's attack on the business was planned in association with the Chelsea FC owner.
The claim was slammed by Abramovich's official spokesman as a 'far-fetched conspiracy theory'.
Analysts are convinced Khodorkovsky's political ambitions led to his downfall but Nevzlin said Sibneft's plan to merge with Yukos was a ruse to take control.
Nevzlin reportedly plans to sue 'a group of people associated with Yukos' destruction'. He also hit out at Dmitry Medvedev, head of the Presidential administration, and Finance Minister Alexei Kudrin.
His attack is likely to be seen as a defensive tactic against repeated attempts by the Russian prosecutor's office to have him extradited. He has been charged with economic crimes, tax evasion and fraud.
http://www.thisislondon.com/news/busine ... 04?source=
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- May 23, 2003
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Sibir Energy seeks probe on Russian oil field investment - report
LONDON (AFX) - Sibir Energy PLC is considering asking the Russian authorities to investigate how its stake in a giant oil project in the country has disappeared, the Independent on Sunday reported without citing sources.
Sibir will tell a judge on Tuesday whether it will agree to appoint a firm of independent solicitors that will find out how its share in the estimated 1.8 bln-barrel oil field shrank from 50 pct to under 1 pct.
The move raises the possibility that Sibir could take legal action in the UK against Sibneft, controlled by Russian businessman Roman Abramovich, owner of the Chelsea football club, the article said.
mbe/ec
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited
Source: AFX UK Focus - This article is copyright of AFX News Limited
LONDON (AFX) - Sibir Energy PLC is considering asking the Russian authorities to investigate how its stake in a giant oil project in the country has disappeared, the Independent on Sunday reported without citing sources.
Sibir will tell a judge on Tuesday whether it will agree to appoint a firm of independent solicitors that will find out how its share in the estimated 1.8 bln-barrel oil field shrank from 50 pct to under 1 pct.
The move raises the possibility that Sibir could take legal action in the UK against Sibneft, controlled by Russian businessman Roman Abramovich, owner of the Chelsea football club, the article said.
mbe/ec
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited
Source: AFX UK Focus - This article is copyright of AFX News Limited
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Abramovich to cash in GBP6bn on Sibneft
Roman Abramovich, the multi-billionaire owner of Premiership football champions Chelsea, looks set to add another 6 billion to his cash fortune, according to newspaper reports in Moscow today, which suggest that Gazprom, Russia's state-owned gas monopoly, is to buy up shares in his oil firm Sibneft. Sibneft's core shareholders, led by Mr Abramovich, control 72 per cent of the company and are in talks to sell it to Gazprom for reportedly more than $10 billion.
Gazprom has told Sibneft's owners they should regain control of a 20 per cent stake held by stricken oil company Yukos before the takeover. The remaining 8 per cent is freely floated.
State oil company Rosneft has said it expects to be awarded the 20 per cent stake in a court battle with Yukos . If Rosneft gets the stake and then increases it to 25 per cent, it would be able to block key decisions over how Sibneft is run.
Vedomosti,
Some analysts said that if it was true that Gazprom had bought the 3 per cent, valued at $550 million on Friday, it was still likely to chase the 20 per cent stake to stop Rosneft getting hold of it. 'Even as a shareholder without a blocking stake, Rosneft does not appear to be welcomed by Gazprom,' Adam Landes, oil and gas analyst at Renaissance Capital, said in a research note.
Analysts at Troika Dialog brokerage said buying shares in the open market was a cheaper and quicker method of getting the crucial 75 per cent plus one share, and had the additional advantage of leaving Rosneft with an orphaned holding. 'A 20 per cent stake would be left for Rosneft, which would be forced to sell it without the premium that it could demand if it had a blocking minority,' Troika said. Analysts said the news was bad for Sibneft's minority shareholders, both because they are expected to lose out in a Gazprom takeover and because if Gazprom has got its 3 per cent there would be less demand for their shares.
Sibneft stock rose 19 per cent last week, its biggest weekly gain in four years.
Despite the wide expectation of the deal, one analyst sounded a note of caution. 'Gazprom's efforts to acquire Sibneft could still be thwarted either by a late intervention by Rosneft ... or if the banks balk at financing an asset that is subject to a serious legal threat,' Anisa Nagaria, at Alfa Bank, told Reuters.
http://business.timesonline.co.uk/artic ... 29,00.html
Roman Abramovich, the multi-billionaire owner of Premiership football champions Chelsea, looks set to add another 6 billion to his cash fortune, according to newspaper reports in Moscow today, which suggest that Gazprom, Russia's state-owned gas monopoly, is to buy up shares in his oil firm Sibneft. Sibneft's core shareholders, led by Mr Abramovich, control 72 per cent of the company and are in talks to sell it to Gazprom for reportedly more than $10 billion.
Gazprom has told Sibneft's owners they should regain control of a 20 per cent stake held by stricken oil company Yukos before the takeover. The remaining 8 per cent is freely floated.
State oil company Rosneft has said it expects to be awarded the 20 per cent stake in a court battle with Yukos . If Rosneft gets the stake and then increases it to 25 per cent, it would be able to block key decisions over how Sibneft is run.
Vedomosti,
Some analysts said that if it was true that Gazprom had bought the 3 per cent, valued at $550 million on Friday, it was still likely to chase the 20 per cent stake to stop Rosneft getting hold of it. 'Even as a shareholder without a blocking stake, Rosneft does not appear to be welcomed by Gazprom,' Adam Landes, oil and gas analyst at Renaissance Capital, said in a research note.
Analysts at Troika Dialog brokerage said buying shares in the open market was a cheaper and quicker method of getting the crucial 75 per cent plus one share, and had the additional advantage of leaving Rosneft with an orphaned holding. 'A 20 per cent stake would be left for Rosneft, which would be forced to sell it without the premium that it could demand if it had a blocking minority,' Troika said. Analysts said the news was bad for Sibneft's minority shareholders, both because they are expected to lose out in a Gazprom takeover and because if Gazprom has got its 3 per cent there would be less demand for their shares.
Sibneft stock rose 19 per cent last week, its biggest weekly gain in four years.
Despite the wide expectation of the deal, one analyst sounded a note of caution. 'Gazprom's efforts to acquire Sibneft could still be thwarted either by a late intervention by Rosneft ... or if the banks balk at financing an asset that is subject to a serious legal threat,' Anisa Nagaria, at Alfa Bank, told Reuters.
http://business.timesonline.co.uk/artic ... 29,00.html
- Joined
- May 23, 2003
- Messages
- 4,580
UPDATE 2-UK court dismisses suit against Sibir Energy
(Adds detail, Sibneft and Sibir comment, updates shares)
By Tom Bergin, European Oil and Gas Correspondent
LONDON, Aug 25 (Reuters) - A UK judge on Thursday dismissed
a lawsuit taken against Russian oil company Sibir Energy and its
main shareholder by a mysterious small investor,
describing the claim as "bogus".
Harley Street Capital (HSC), which holds 200 shares in
Sibir, was suing Sibir and its main shareholder Shalva
Chigirinsky, accusing them of fraud and of destroying
shareholder value.
"A host of allegations were made against the defendant which
I have found to be completely unjustified," said judge Peter
Smith."(This was) a bogus claim lacking in bona fides."
Smith criticised the fact that no one had come forward as
being behind HSC. He added that HSC appeared to have acquired
its shares solely for the purposes of taking the action.
London-listed Sibir estimated HSC had spent 150,000 pounds
($270,300) in legal costs, while HSC's shareholding in Sibir is
worth only around 500 pounds.
CORPORATE BATTLE
Sibir believes the case is linked to a corporate battle with
its larger rival Sibneft, which is controlled by billionaire
Roman Abramovich. Abramovich is also the owner of Britain's
Chelsea soccer club.
Sibir accuses Sibneft of cheating it out of the $1.5 billion
Priobskoye Siberian oil field by diluting the stake that
Yugraneft, the joint venture with the City of Moscow through
which Sibir held its interest, owned in the company operating
the field.
"It is asserted that Mr Abramovich in April 2004 told the
Mayor of Moscow that the reason he diluted (Yugraneft's)
interest was to pay CT (Shalva Chigirinsky) back for blocking
his attempts to take over control of the Moscow refinery," Smith
said in reference to a previous battle between Chigirinsky and
Sibneft.
A spokesman for Sibneft said: "This sounds like gossip and
hearsay".
Smith's ruling did not name the mayor but the current Moscow
mayor Yuri Luzhkov, has been in office for over a decade.
Sibneft has always denied any wrongdoing and denies any link
to HSC.
The judge also lifted an injunction granted to HSC, stopping
Chigirinsky from selling his shares, awarded costs against the
claimant and denied HSC the right to appeal his rulings.
"The case that was thrown out by the Judge today has been an
expensive and completely unnecessary diversion for Sibir. We
will now redouble our efforts and will not cease until our
rightful property is returned," Henry Cameron, Chief Executive
of Sibir Energy, said in a statement.
However, Sibir also faced criticism in relation to the loss
of its stake in the oil field, which Sibir discovered over a
year after its shareholding was reduced.
"The defendant's officers have been incredibly lax about the
loss of a substantial asset," Smith said.
Russian gas monopoly Gazprom is talking to Western banks
about a loan to fund a takeover of Sibneft, sources familiar
with the situation told Reuters last month.
At 1445 GMT, Sibir shares were up 2.25 percent at 271 pence.
(Adds detail, Sibneft and Sibir comment, updates shares)
By Tom Bergin, European Oil and Gas Correspondent
LONDON, Aug 25 (Reuters) - A UK judge on Thursday dismissed
a lawsuit taken against Russian oil company Sibir Energy and its
main shareholder by a mysterious small investor,
describing the claim as "bogus".
Harley Street Capital (HSC), which holds 200 shares in
Sibir, was suing Sibir and its main shareholder Shalva
Chigirinsky, accusing them of fraud and of destroying
shareholder value.
"A host of allegations were made against the defendant which
I have found to be completely unjustified," said judge Peter
Smith."(This was) a bogus claim lacking in bona fides."
Smith criticised the fact that no one had come forward as
being behind HSC. He added that HSC appeared to have acquired
its shares solely for the purposes of taking the action.
London-listed Sibir estimated HSC had spent 150,000 pounds
($270,300) in legal costs, while HSC's shareholding in Sibir is
worth only around 500 pounds.
CORPORATE BATTLE
Sibir believes the case is linked to a corporate battle with
its larger rival Sibneft, which is controlled by billionaire
Roman Abramovich. Abramovich is also the owner of Britain's
Chelsea soccer club.
Sibir accuses Sibneft of cheating it out of the $1.5 billion
Priobskoye Siberian oil field by diluting the stake that
Yugraneft, the joint venture with the City of Moscow through
which Sibir held its interest, owned in the company operating
the field.
"It is asserted that Mr Abramovich in April 2004 told the
Mayor of Moscow that the reason he diluted (Yugraneft's)
interest was to pay CT (Shalva Chigirinsky) back for blocking
his attempts to take over control of the Moscow refinery," Smith
said in reference to a previous battle between Chigirinsky and
Sibneft.
A spokesman for Sibneft said: "This sounds like gossip and
hearsay".
Smith's ruling did not name the mayor but the current Moscow
mayor Yuri Luzhkov, has been in office for over a decade.
Sibneft has always denied any wrongdoing and denies any link
to HSC.
The judge also lifted an injunction granted to HSC, stopping
Chigirinsky from selling his shares, awarded costs against the
claimant and denied HSC the right to appeal his rulings.
"The case that was thrown out by the Judge today has been an
expensive and completely unnecessary diversion for Sibir. We
will now redouble our efforts and will not cease until our
rightful property is returned," Henry Cameron, Chief Executive
of Sibir Energy, said in a statement.
However, Sibir also faced criticism in relation to the loss
of its stake in the oil field, which Sibir discovered over a
year after its shareholding was reduced.
"The defendant's officers have been incredibly lax about the
loss of a substantial asset," Smith said.
Russian gas monopoly Gazprom is talking to Western banks
about a loan to fund a takeover of Sibneft, sources familiar
with the situation told Reuters last month.
At 1445 GMT, Sibir shares were up 2.25 percent at 271 pence.
- Joined
- May 23, 2003
- Messages
- 4,580
In Putin's pocket?
The Russian oligarch is $9bn richer after selling his oil company to the state. But as Boris Berezovsky, his former partner, tells Sylvia Pfeifer the deal has only increased questions about Abramovich's relationship with the Kremlin
Roman Abramovich, the 38-year-old Russian billionaire and owner of Chelsea football club, hates to be in the limelight. But last week there was no hiding from the glare of publicity when he agreed to sell Sibneft, the Russian oil company he controls, to Gazprom, the state-owned gas giant, for $13.1bn (7.5bn). The deal will see Abramovich personally pocket around $9bn, swelling his fortune to some $22bn. To put this in context, as Abramovich watched his Chelsea team battle for 90 minutes with Liverpool last week, his windfall from the Sibneft deal would have earned him 50,000 in interest. So how has Abramovich managed to acquire his immense wealth and appear immune to a backlash against many former oligarchs by President Vladimir Putin?
Abramovich's apparently charmed position is in striking contrast to that of Mikhail Khodorkovsky, the former owner of Yukos, the oil company, who has languished in jail for more than two years. Last week, Khodorkovsky lost his appeal against conviction for fraud and tax evasion and is now set to be sent to a labour camp for eight years.
The media-shy Abramovich, who was orphaned at the age of four, dropped out of college and whose first business ventures were selling plastic ducks and second-hand cars, turned down requests for an interview last week. So The Sunday Telegraph turned for answers to another enormously wealthy Russian businessman - Boris Berezovsky.
Berezovsky, who has been granted political asylum in Britain and is a former business partner of Abramovich, made his own fortune during the same tumultuous years of post-Soviet Russia.
Sitting in his Mayfair offices while a bodyguard keeps watch near the entrance, Berezovsky says: 'I am not surprised with what happened with Khodorkovsky: I am not surprised as far as this deal with Abramovich is concerned. I have known for a long time that Abramovich is a business partner of Putin. And business, like they understand it, is possible to do any way they want.' The legal assault on Khodorkovsky has been widely seen as a Kremlin-orchestrated campaign to punish him for funding opposition parties against Putin and to seize control of his oil assets. Yukos, which was once Russia's largest company, has been crippled by $28bn in tax claims and the Russian government's decision to auction off its largest asset to Rosneft, the state-owned oil company. 'Khodorkovsky . . . tried to be independent, tried to participate in political life. To the contrary, Abramovich became [Putin's] business partner, became his political partner,' says Berezovsky. Asked what he thinks of Abramovich, Berezovsky says: 'He plays really big . . . smart, no question.' But he also scathing about his former proteg, with whom he has fallen out spectacularly in the past few years.
Berezovsky intends to sue Abramovich in a court in London on charges of allegedly forcing him to sell stakes in Sibneft, ORT, the television company, and RusAl, the aluminium giant, at knockdown prices after his own relationship with Putin's Kremlin soured in 2000.
A spokesman for Abramovich declined to comment on Berezovsky's specific allegations, but says: 'The relationship between Mr Abramovich and the President is a professional relationship and is the same as that with any other regional governor.' Like Berezovsky, both Abramovich and Khodorkovsky were clever and ambitious enough to turn the disintegration of the Communist system in the mid 1990s to their advantage. The men made their billion-dollar fortunes almost overnight as they used their connections in the Kremlin to buy shares in some of the crown jewels of Russian industry at below market value.
In 1995, Abramovich, together with Berezovsky, bought Sibneft for just $100m. Khodorkovsky, meanwhile, snapped up a controlling stake in Yukos, then a collection of Soviet-era oil companies.
A decade on, their fortunes have diverged. While Abramovich's wealth has soared to more than $20bn, Khodorkovsky's has plummeted from $15bn to $2.2bn over the past year, according to Forbes, the US magazine.
Robert Amsterdam, a lawyer for Khodorkovsky, openly condemns the dismantlement of Yukos as 'state theft'. He goes on: 'Khodorkovsky has been attacked both politically and economically because he believed in transparency, because he believed in civil society, because his focus was on far broader issues than simply business. This is simply a war by Putin on anyone he perceives to be an opponent. That is the issue.' Ever since Khodorkovsky's arrest, there had been speculation that Abramovich might become the next major target for the Kremlin as Putin sought to rein in the 'oligarchs' and reassert the state's control over the country's strategic assets such as natural resources. Last week's deal gives the Kremlin control of a third of Russia's oil output.
Nevertheless, most long-term Russia-watchers believe the deal is a victory for both sides. 'The deal was a very elegant solution for both sides. If Abramovich had put the company up for sale in an international tender then Sibneft could have commanded more than twice the price,' says Bill Browder, a fund manager in Russia. 'So, on the one hand, Gazprom got a good deal. Given Khodorkovsky's fate, Abramovich receiving $13bn free and clear is also a good deal.' Berezovsky, meanwhile, says there is 'no chance' the attacks on the oligarchs will cease. He does, however, believe that last week's deal is of singular importance: by buying back Abramovich's stake in Sibneft, he says, the government is actually legitimising the privatisations of the mid 1990s. 'The government, because of this deal with Abramovich, confirms that the privatisations were legal, were correct,' he says. As a result, it will give people like him 'an additional base' to prove that his money is not 'dirty money'. Berezovsky remains adamant that the knockdown prices paid by him and others during the privatisations of the 1990s were correct, given the political instability of the time and the risks they were taking. 'The price depends on risk,' he argues, adding that George Soros, the international financier, at the time declined to lend him even $1 to help buy Sibneft. 'He said: 'Boris, I will not give you $1, not even millions like you ask me, because the risk is incredibly high!' Relations between the two men have never been the same and Berezovsky has not spoken to Soros since.
But today most of Berezovsky's ire is directed towards Abramovich. He says he hopes to file the court case against him this month.
For Abramovich, meanwhile, last week's deal is not quite the final exit from Russia that many analysts think he craves. He remains governor of Chukotka, a remote and impoverished region in the far east of Russia. Abramovich had indicated that he did not want to serve another term. However, the Kremlin is keen for him to stay on when his first term runs out at the end of this year.
In the meantime, the political landscape may well change if, as Berezovsky confidently predicts, the days of Putin's reign are numbered. 'My estimation is that his regime won't survive until 2008 . . . All elites without an exception hate Putin and I am sure they are already decisive enough to break Putin's power.'
http://www.telegraph.co.uk/money/main.j ... xcoms.html
The Russian oligarch is $9bn richer after selling his oil company to the state. But as Boris Berezovsky, his former partner, tells Sylvia Pfeifer the deal has only increased questions about Abramovich's relationship with the Kremlin
Roman Abramovich, the 38-year-old Russian billionaire and owner of Chelsea football club, hates to be in the limelight. But last week there was no hiding from the glare of publicity when he agreed to sell Sibneft, the Russian oil company he controls, to Gazprom, the state-owned gas giant, for $13.1bn (7.5bn). The deal will see Abramovich personally pocket around $9bn, swelling his fortune to some $22bn. To put this in context, as Abramovich watched his Chelsea team battle for 90 minutes with Liverpool last week, his windfall from the Sibneft deal would have earned him 50,000 in interest. So how has Abramovich managed to acquire his immense wealth and appear immune to a backlash against many former oligarchs by President Vladimir Putin?
Abramovich's apparently charmed position is in striking contrast to that of Mikhail Khodorkovsky, the former owner of Yukos, the oil company, who has languished in jail for more than two years. Last week, Khodorkovsky lost his appeal against conviction for fraud and tax evasion and is now set to be sent to a labour camp for eight years.
The media-shy Abramovich, who was orphaned at the age of four, dropped out of college and whose first business ventures were selling plastic ducks and second-hand cars, turned down requests for an interview last week. So The Sunday Telegraph turned for answers to another enormously wealthy Russian businessman - Boris Berezovsky.
Berezovsky, who has been granted political asylum in Britain and is a former business partner of Abramovich, made his own fortune during the same tumultuous years of post-Soviet Russia.
Sitting in his Mayfair offices while a bodyguard keeps watch near the entrance, Berezovsky says: 'I am not surprised with what happened with Khodorkovsky: I am not surprised as far as this deal with Abramovich is concerned. I have known for a long time that Abramovich is a business partner of Putin. And business, like they understand it, is possible to do any way they want.' The legal assault on Khodorkovsky has been widely seen as a Kremlin-orchestrated campaign to punish him for funding opposition parties against Putin and to seize control of his oil assets. Yukos, which was once Russia's largest company, has been crippled by $28bn in tax claims and the Russian government's decision to auction off its largest asset to Rosneft, the state-owned oil company. 'Khodorkovsky . . . tried to be independent, tried to participate in political life. To the contrary, Abramovich became [Putin's] business partner, became his political partner,' says Berezovsky. Asked what he thinks of Abramovich, Berezovsky says: 'He plays really big . . . smart, no question.' But he also scathing about his former proteg, with whom he has fallen out spectacularly in the past few years.
Berezovsky intends to sue Abramovich in a court in London on charges of allegedly forcing him to sell stakes in Sibneft, ORT, the television company, and RusAl, the aluminium giant, at knockdown prices after his own relationship with Putin's Kremlin soured in 2000.
A spokesman for Abramovich declined to comment on Berezovsky's specific allegations, but says: 'The relationship between Mr Abramovich and the President is a professional relationship and is the same as that with any other regional governor.' Like Berezovsky, both Abramovich and Khodorkovsky were clever and ambitious enough to turn the disintegration of the Communist system in the mid 1990s to their advantage. The men made their billion-dollar fortunes almost overnight as they used their connections in the Kremlin to buy shares in some of the crown jewels of Russian industry at below market value.
In 1995, Abramovich, together with Berezovsky, bought Sibneft for just $100m. Khodorkovsky, meanwhile, snapped up a controlling stake in Yukos, then a collection of Soviet-era oil companies.
A decade on, their fortunes have diverged. While Abramovich's wealth has soared to more than $20bn, Khodorkovsky's has plummeted from $15bn to $2.2bn over the past year, according to Forbes, the US magazine.
Robert Amsterdam, a lawyer for Khodorkovsky, openly condemns the dismantlement of Yukos as 'state theft'. He goes on: 'Khodorkovsky has been attacked both politically and economically because he believed in transparency, because he believed in civil society, because his focus was on far broader issues than simply business. This is simply a war by Putin on anyone he perceives to be an opponent. That is the issue.' Ever since Khodorkovsky's arrest, there had been speculation that Abramovich might become the next major target for the Kremlin as Putin sought to rein in the 'oligarchs' and reassert the state's control over the country's strategic assets such as natural resources. Last week's deal gives the Kremlin control of a third of Russia's oil output.
Nevertheless, most long-term Russia-watchers believe the deal is a victory for both sides. 'The deal was a very elegant solution for both sides. If Abramovich had put the company up for sale in an international tender then Sibneft could have commanded more than twice the price,' says Bill Browder, a fund manager in Russia. 'So, on the one hand, Gazprom got a good deal. Given Khodorkovsky's fate, Abramovich receiving $13bn free and clear is also a good deal.' Berezovsky, meanwhile, says there is 'no chance' the attacks on the oligarchs will cease. He does, however, believe that last week's deal is of singular importance: by buying back Abramovich's stake in Sibneft, he says, the government is actually legitimising the privatisations of the mid 1990s. 'The government, because of this deal with Abramovich, confirms that the privatisations were legal, were correct,' he says. As a result, it will give people like him 'an additional base' to prove that his money is not 'dirty money'. Berezovsky remains adamant that the knockdown prices paid by him and others during the privatisations of the 1990s were correct, given the political instability of the time and the risks they were taking. 'The price depends on risk,' he argues, adding that George Soros, the international financier, at the time declined to lend him even $1 to help buy Sibneft. 'He said: 'Boris, I will not give you $1, not even millions like you ask me, because the risk is incredibly high!' Relations between the two men have never been the same and Berezovsky has not spoken to Soros since.
But today most of Berezovsky's ire is directed towards Abramovich. He says he hopes to file the court case against him this month.
For Abramovich, meanwhile, last week's deal is not quite the final exit from Russia that many analysts think he craves. He remains governor of Chukotka, a remote and impoverished region in the far east of Russia. Abramovich had indicated that he did not want to serve another term. However, the Kremlin is keen for him to stay on when his first term runs out at the end of this year.
In the meantime, the political landscape may well change if, as Berezovsky confidently predicts, the days of Putin's reign are numbered. 'My estimation is that his regime won't survive until 2008 . . . All elites without an exception hate Putin and I am sure they are already decisive enough to break Putin's power.'
http://www.telegraph.co.uk/money/main.j ... xcoms.html
- Joined
- May 23, 2003
- Messages
- 4,580
British lawyer hatched Putin smears
A BRITISH lawyer killed in a helicopter crash on the south coast of England was at the heart of a secret smear campaign against President Vladimir Putin and his leading associates, according to a confidential dossier.
Stephen Curtis, who died in 2004, was chairman of the security firm ISC Global (UK) which worked for a group of Russian tycoons plotting against Putin. The dossier says the company was to "discredit [Putin] and those around him". The targets were 11 senior Russians - from the defence minister to Roman Abramovich, owner of Chelsea football club.
ISC was also tasked with creating a luxury yacht with a crew capable of repelling an armed assault. The ship was to be a floating refuge for oligarchs wanted by Moscow on charges of fraud.
Curtis, 45, died in March 2004 alongside Max Radford, 34, the pilot, when their helicopter crashed near Bournemouth airport on the way to Dublin.
The wreckage yielded few clues and an inquest jury last November returned a verdict of accidental death. But a number of facts remained unexplained. It emerged that Curtis had received threats, felt he was under surveillance and had warned a relative shortly before: "If anything happens in the next two weeks then it won't be an accident." Even the coroner conceded that the death had "all the ingredients of an espionage thriller". The ISC connection was never investigated or put to the jury and the pilot's parents do not accept the verdict. Their lawyer called for a public inquiry.
The dossier, seen by The Sunday Times, shows that ISC was funded by some of Russia's wealthiest but most wanted men. They included Mikhail Khodorkovsky and Leonid Nevzlin, the owners of Group Menatep, the company behind Yukos, Russia's second largest oil company.
Curtis, who already acted for the Gibraltar-based Menatep, was made chairman of ISC, which received 6m from the Russians in the first three years, financial documents show. His expertise was in setting up complex offshore structures to disperse Yukos's vast profits. Two former Scotland Yard officers ran the security side. ISC "targeted" leading figures in Russia after Putin sanctioned the arrest of Khodorkovsky on fraud and tax evasion charges in October 2003 as his jet refuelled in Siberia. Putin wanted to dismantle Yukos and take it back into the Kremlin's hands. Nevzlin, who is wanted for fraud offences and organising a contract killing, moved to Israel as a wave of Yukos executives fled to London. City lawyers were hired to fend off extradition requests from Moscow which the oligarchs say are politically inspired. ISC carried out "monitoring" services to collate information on developments in the extradition battle. Ex-SAS soldiers acted as bodyguards to clients considered at risk of being kidnapped by Moscow.
The company also drew up plans to customise a 30m luxury yacht, the Constellation, to provide a safe haven for wanted executives, said ISC sources. It was to be defended against armed assault by a "Swat" team which would undergo "combat and kidnapping avoidance training", according to the boat's specification. Living quarters would be protected by bullet-proof glass and meeting rooms pumped with "white noise" to prevent bugging.
The specification reveals how some guests were to be entertained. It says: "Procedure for vetting, screening and searching Lady's [sic] of the night onboard. Also a need to establish a trusted agency connection for such personnel." The campaign was authorised by Nevzlin who told ISC to do "the biggest investigation ever", according to a company insider. ISC drafted a 12-page document marked "Secret", which one of its partners presented to Nevzlin in Israel. The oligarch authorised 37m for the first phase of the operation, the source said.
http://www.timesonline.co.uk/article/0, ... 51,00.html
A BRITISH lawyer killed in a helicopter crash on the south coast of England was at the heart of a secret smear campaign against President Vladimir Putin and his leading associates, according to a confidential dossier.
Stephen Curtis, who died in 2004, was chairman of the security firm ISC Global (UK) which worked for a group of Russian tycoons plotting against Putin. The dossier says the company was to "discredit [Putin] and those around him". The targets were 11 senior Russians - from the defence minister to Roman Abramovich, owner of Chelsea football club.
ISC was also tasked with creating a luxury yacht with a crew capable of repelling an armed assault. The ship was to be a floating refuge for oligarchs wanted by Moscow on charges of fraud.
Curtis, 45, died in March 2004 alongside Max Radford, 34, the pilot, when their helicopter crashed near Bournemouth airport on the way to Dublin.
The wreckage yielded few clues and an inquest jury last November returned a verdict of accidental death. But a number of facts remained unexplained. It emerged that Curtis had received threats, felt he was under surveillance and had warned a relative shortly before: "If anything happens in the next two weeks then it won't be an accident." Even the coroner conceded that the death had "all the ingredients of an espionage thriller". The ISC connection was never investigated or put to the jury and the pilot's parents do not accept the verdict. Their lawyer called for a public inquiry.
The dossier, seen by The Sunday Times, shows that ISC was funded by some of Russia's wealthiest but most wanted men. They included Mikhail Khodorkovsky and Leonid Nevzlin, the owners of Group Menatep, the company behind Yukos, Russia's second largest oil company.
Curtis, who already acted for the Gibraltar-based Menatep, was made chairman of ISC, which received 6m from the Russians in the first three years, financial documents show. His expertise was in setting up complex offshore structures to disperse Yukos's vast profits. Two former Scotland Yard officers ran the security side. ISC "targeted" leading figures in Russia after Putin sanctioned the arrest of Khodorkovsky on fraud and tax evasion charges in October 2003 as his jet refuelled in Siberia. Putin wanted to dismantle Yukos and take it back into the Kremlin's hands. Nevzlin, who is wanted for fraud offences and organising a contract killing, moved to Israel as a wave of Yukos executives fled to London. City lawyers were hired to fend off extradition requests from Moscow which the oligarchs say are politically inspired. ISC carried out "monitoring" services to collate information on developments in the extradition battle. Ex-SAS soldiers acted as bodyguards to clients considered at risk of being kidnapped by Moscow.
The company also drew up plans to customise a 30m luxury yacht, the Constellation, to provide a safe haven for wanted executives, said ISC sources. It was to be defended against armed assault by a "Swat" team which would undergo "combat and kidnapping avoidance training", according to the boat's specification. Living quarters would be protected by bullet-proof glass and meeting rooms pumped with "white noise" to prevent bugging.
The specification reveals how some guests were to be entertained. It says: "Procedure for vetting, screening and searching Lady's [sic] of the night onboard. Also a need to establish a trusted agency connection for such personnel." The campaign was authorised by Nevzlin who told ISC to do "the biggest investigation ever", according to a company insider. ISC drafted a 12-page document marked "Secret", which one of its partners presented to Nevzlin in Israel. The oligarch authorised 37m for the first phase of the operation, the source said.
http://www.timesonline.co.uk/article/0, ... 51,00.html
- Joined
- May 23, 2003
- Messages
- 4,580
Spy visited Israel to pass on secret dossier
It emerged yesterday that Mr Litvinenko travelled to Israel just weeks before he died to hand over evidence to a Russian billionaire of how agents working for President Putin dealt with his enemies running the Yukos oil company.
He passed this information to Leonid Nevzlin, the former second-in-command of Yukos, who fled to Tel Aviv in fear for his life after the Kremlin seized and then sold off the $40 billion (21 billion) company. Mr Nevzlin told The Times that it was his "duty" to pass on the file. "Alexander had information on crimes committed with the Russian Government's direct participation," he said. "He only recently gave me and my attorneys documents that shed light on the most significant aspects of the Yukos affair." Investigators have told The Times that Mr Litvinenko had apparently uncovered "startling" new material about the Yukos affair and what happened to those opposing the forced break-up of the company.
Several figures linked with Yukos are reported to have disappeared or died in mysterious circumstances while its head, Mikhail Khodorkovsky, and others have been jailed.
Originally it was Mr Litvinenko's vocal opposition to President Putin's rule that led to accusations of Russia's secret service involvement in his death, but police are investigating whether he made enemies through his links with a number of oligarchs.
Detectives involved in what they admit is one of the most complicated inquiries Scotland Yard has faced say that they are working through Mr Litvinenko's formidable list of friends and foes, which includes some of the world's wealthiest men. One figure close to the investigation said: "At present we have a bewildering number of theories and names put to us, and we must establish some firm evidence." Friends of the former spy have claimed that on his deathbed Mr Litvinenko named a number of men linked to the Kremlin who he claimed were targeting him.
They reportedly include a diplomat based at the Russian Embassy in London until last year who is now back in Moscow. Mr Litvinenko reportedly complained that the man was harassing him after his home was firebombed a fortnight before he was poisoned.
Police are still piecing together how Mr Litvinenko spent the last 72 hours before he fell ill and searching for any further traces of the radioactive isotope, polonium-210, that is thought to have poisoned him.
A post-mortem examination is expected to be carried out today on the former KGB colonel, who acquired British citizenship last month.
Forensic scientists are hoping that polonium-210 found in the Itsu sushi bar in Piccadilly and the Millennium Hotel, both of which Mr Litvinenko visited on November 1, may yield a fingerprint that could help investigators to track down where it came from.
Experts have begun decontaminating the sushi bar, but police were last night still examining guest rooms at the hotel in Grosvenor Square and Mr Litvinenko's North London home.
His wife, Marina, 44, and 12-year-old son, Anatole, have been examined and neither has been contaminated.
Boris Berezovsky, the exiled oligarch, who employed Mr Litvinenko and who has accused the Kremlin of having a hand in his poisoning, is also reported to have been tested.
http://www.timesonline.co.uk/article/0, ... 85,00.html
It emerged yesterday that Mr Litvinenko travelled to Israel just weeks before he died to hand over evidence to a Russian billionaire of how agents working for President Putin dealt with his enemies running the Yukos oil company.
He passed this information to Leonid Nevzlin, the former second-in-command of Yukos, who fled to Tel Aviv in fear for his life after the Kremlin seized and then sold off the $40 billion (21 billion) company. Mr Nevzlin told The Times that it was his "duty" to pass on the file. "Alexander had information on crimes committed with the Russian Government's direct participation," he said. "He only recently gave me and my attorneys documents that shed light on the most significant aspects of the Yukos affair." Investigators have told The Times that Mr Litvinenko had apparently uncovered "startling" new material about the Yukos affair and what happened to those opposing the forced break-up of the company.
Several figures linked with Yukos are reported to have disappeared or died in mysterious circumstances while its head, Mikhail Khodorkovsky, and others have been jailed.
Originally it was Mr Litvinenko's vocal opposition to President Putin's rule that led to accusations of Russia's secret service involvement in his death, but police are investigating whether he made enemies through his links with a number of oligarchs.
Detectives involved in what they admit is one of the most complicated inquiries Scotland Yard has faced say that they are working through Mr Litvinenko's formidable list of friends and foes, which includes some of the world's wealthiest men. One figure close to the investigation said: "At present we have a bewildering number of theories and names put to us, and we must establish some firm evidence." Friends of the former spy have claimed that on his deathbed Mr Litvinenko named a number of men linked to the Kremlin who he claimed were targeting him.
They reportedly include a diplomat based at the Russian Embassy in London until last year who is now back in Moscow. Mr Litvinenko reportedly complained that the man was harassing him after his home was firebombed a fortnight before he was poisoned.
Police are still piecing together how Mr Litvinenko spent the last 72 hours before he fell ill and searching for any further traces of the radioactive isotope, polonium-210, that is thought to have poisoned him.
A post-mortem examination is expected to be carried out today on the former KGB colonel, who acquired British citizenship last month.
Forensic scientists are hoping that polonium-210 found in the Itsu sushi bar in Piccadilly and the Millennium Hotel, both of which Mr Litvinenko visited on November 1, may yield a fingerprint that could help investigators to track down where it came from.
Experts have begun decontaminating the sushi bar, but police were last night still examining guest rooms at the hotel in Grosvenor Square and Mr Litvinenko's North London home.
His wife, Marina, 44, and 12-year-old son, Anatole, have been examined and neither has been contaminated.
Boris Berezovsky, the exiled oligarch, who employed Mr Litvinenko and who has accused the Kremlin of having a hand in his poisoning, is also reported to have been tested.
http://www.timesonline.co.uk/article/0, ... 85,00.html
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'New charges' for Russian tycoon
Jailed Russian oil tycoon Mikhail Khodorkovsky is facing new charges of money-laundering, his lawyer says.
Yury Shmidt told the Interfax news agency that the prosecutor-general's office had informed the defence team of the new charges.
Mr Khodorkovsky, the former chairman of Yukos, has been transferred to a prison in the town of Chita, eastern Siberia.
He has been serving an eight-year term at a penal colony in Krasnokamensk, in the Chita region.
He was jailed for fraud and tax evasion and has had several spells in solitary confinement.
Mr Khodorkovsky built up a multi-billion-dollar fortune before falling foul of the authorities. He was arrested in 2003 along with his business associate Platon Lebedev.
Mr Shmidt told Interfax that Mr Lebedev had also been transferred to the prison in Chita. He had been serving his sentence in Kharp, in the far north of Russia.
Critics accused Mr Khodorkovsky of exploiting Russia's natural wealth for personal gain.
His supporters say the case against him was politically motivated and he is paying the price for his political ambitions.
Mr Khodorkovsky and Mr Lebedev were facing the possibility of release in 2008-2009 - but that appears unlikely now that new charges are being laid against them.
http://news.bbc.co.uk/1/hi/world/europe/6211675.stm
also, relating to the litvinenko case...
http://www.theday.com/re.aspx?re=dfdc1b ... 4b5aa5b880
Jailed Russian oil tycoon Mikhail Khodorkovsky is facing new charges of money-laundering, his lawyer says.
Yury Shmidt told the Interfax news agency that the prosecutor-general's office had informed the defence team of the new charges.
Mr Khodorkovsky, the former chairman of Yukos, has been transferred to a prison in the town of Chita, eastern Siberia.
He has been serving an eight-year term at a penal colony in Krasnokamensk, in the Chita region.
He was jailed for fraud and tax evasion and has had several spells in solitary confinement.
Mr Khodorkovsky built up a multi-billion-dollar fortune before falling foul of the authorities. He was arrested in 2003 along with his business associate Platon Lebedev.
Mr Shmidt told Interfax that Mr Lebedev had also been transferred to the prison in Chita. He had been serving his sentence in Kharp, in the far north of Russia.
Critics accused Mr Khodorkovsky of exploiting Russia's natural wealth for personal gain.
His supporters say the case against him was politically motivated and he is paying the price for his political ambitions.
Mr Khodorkovsky and Mr Lebedev were facing the possibility of release in 2008-2009 - but that appears unlikely now that new charges are being laid against them.
http://news.bbc.co.uk/1/hi/world/europe/6211675.stm
also, relating to the litvinenko case...
http://www.theday.com/re.aspx?re=dfdc1b ... 4b5aa5b880
- Joined
- May 23, 2003
- Messages
- 4,580
Comment: Litvinenko saga will run and run
The end of the long New Year holiday in Russia has been marked by a flurry of activity in the investigation into the murder of the former spy Alexander Litvinenko.
Scotland Yard's application to send detectives back to Moscow suggests that they are narrowing the range of suspects after reviewing information gathered during the first visit last month.
Russia's Prosecutor-General, Yuri Chaika, is determined to go in the opposite direction. He has just sent a 110-page file to London, asking the Metropolitan Police to organise interviews with more than 100 potential witnesses and searches at dozens of locations.
Mr Chaika made it clear today that the Yard's return visit would have to wait until after a team of Russian investigators had been to London. He also confirmed that Boris Berezovsky, the billionaire critic of President Putin, and Akhmed Zakayev, the Chechen separatist envoy, are top of the Kremlin's list of interviewees in London.
Both men were friends of Mr Litvinenko and deny any involvement in poisoning him. They have accused the Kremlin of orchestrating his murder.
Mr Chaika also tied President Putin's long campaign against the fallen Yukos oil giant to the outcome of the Litvinenko inquiry. Yukos was broken up after being hit with claims for billions of dollars in taxes in what was seen as a Kremlin campaign against its founder Mikhail Khodorkovsky, who was jailed in 2003.
The Prosecutor-General has asked the Yard to re-examine the death in London last week of Yuri Golubev, a founder of Yukos, arguing that there was evidence that he died a violent death. British police believe the 65-year-old died of natural causes.
At least a dozen former Yukos personnel have been given asylum in Britain. Three attempts by the authorities in Moscow to have them sent back to Russia were blocked by the English courts.
Mr Chaika broadened his reach still further today by announcing that Moscow had 'evidence of attempts to poison several witnesses in the Yukos case with mercury'. The worry in London will be that the Russians will seek to mix this evidence with the poisoning of Mr Litvinenko by radioactive polonium-210.
Mr Chaika is pressing the authorities in Israel to revoke the citizenship of Leonid Nevzlin, Khodorkovsky's former deputy, so that he can be extradited back to Moscow. The Prosecutor-General has already accused Mr Nevzlin of involvement in the Litvinenko killing, a charge dismissed as absurd by the businessman.
The scramble to buy the film rights to books on the Litvinenko saga shows that even Hollywood studios realise that this is a story that could not be made up.
The controversy continues to deepen with each new twist of conspiracy. It is a story that will run and run.
http://www.timesonline.co.uk/article/0, ... 03,00.html
The end of the long New Year holiday in Russia has been marked by a flurry of activity in the investigation into the murder of the former spy Alexander Litvinenko.
Scotland Yard's application to send detectives back to Moscow suggests that they are narrowing the range of suspects after reviewing information gathered during the first visit last month.
Russia's Prosecutor-General, Yuri Chaika, is determined to go in the opposite direction. He has just sent a 110-page file to London, asking the Metropolitan Police to organise interviews with more than 100 potential witnesses and searches at dozens of locations.
Mr Chaika made it clear today that the Yard's return visit would have to wait until after a team of Russian investigators had been to London. He also confirmed that Boris Berezovsky, the billionaire critic of President Putin, and Akhmed Zakayev, the Chechen separatist envoy, are top of the Kremlin's list of interviewees in London.
Both men were friends of Mr Litvinenko and deny any involvement in poisoning him. They have accused the Kremlin of orchestrating his murder.
Mr Chaika also tied President Putin's long campaign against the fallen Yukos oil giant to the outcome of the Litvinenko inquiry. Yukos was broken up after being hit with claims for billions of dollars in taxes in what was seen as a Kremlin campaign against its founder Mikhail Khodorkovsky, who was jailed in 2003.
The Prosecutor-General has asked the Yard to re-examine the death in London last week of Yuri Golubev, a founder of Yukos, arguing that there was evidence that he died a violent death. British police believe the 65-year-old died of natural causes.
At least a dozen former Yukos personnel have been given asylum in Britain. Three attempts by the authorities in Moscow to have them sent back to Russia were blocked by the English courts.
Mr Chaika broadened his reach still further today by announcing that Moscow had 'evidence of attempts to poison several witnesses in the Yukos case with mercury'. The worry in London will be that the Russians will seek to mix this evidence with the poisoning of Mr Litvinenko by radioactive polonium-210.
Mr Chaika is pressing the authorities in Israel to revoke the citizenship of Leonid Nevzlin, Khodorkovsky's former deputy, so that he can be extradited back to Moscow. The Prosecutor-General has already accused Mr Nevzlin of involvement in the Litvinenko killing, a charge dismissed as absurd by the businessman.
The scramble to buy the film rights to books on the Litvinenko saga shows that even Hollywood studios realise that this is a story that could not be made up.
The controversy continues to deepen with each new twist of conspiracy. It is a story that will run and run.
http://www.timesonline.co.uk/article/0, ... 03,00.html