Khodorkovsky could face new charges of misappropriating Yukos assets

[JURIST] Former Yukos [official website] CEO Mikhail Khodorkovsky [BBC profile] and his business partner Platon Lebedev may soon face new charges over their handling of the oil company's affairs, according to a report Friday in the Russian newspaper Izvestia. Russian investigators are looking into allegations that Yukos' top executives and shareholders misappropriated $11 billion in assets by selling oil from Yukos' production units to offshore intermediary companies. Russian companies regularly sell oil via offshore firms, but Izvestia reports that prosecutors are seeking to prove that the scheme is criminal in nature and qualifies as misappropriation. Lawyers for Khodorkovsky and Lebedev told Izvestia that they haven't ruled out the possibility of new charges being filed against their clients. Khodorkovsky and Lebedev are currently on trial [Khodorkovsky trial defense website] on charges of tax evasion. A verdict in that case is scheduled to be delivered on May 16 [JURIST report]. MosNews has more.

 

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