A Collaboration with the University of Pittsburgh

Russian investigators raid offices of Yukos affiliates

[JURIST] Russian investigators have raided the offices of various companies affiliated with the former oil giant Yukos [corporate website; JURIST news archive] in connection with a $7 billion money-laundering investigation, prosecutors said Wednesday. Prosecutors have previously said they were pursuing such charges [JURIST report] against former Yukos CEO Mikhail Khodorkovsky [JURIST news archive], who has been sentenced to eight years in prison on separate tax charges, although no charges have yet been filed [JURIST report]. Prosecutors would not confirm whether the most recent round of searches was connected to those charges. Prosecutors released a statement claiming to have found evidence that company managers hid profits by paying dividends to fraudulent companies overseas. Yukos has a news release on the raids. Mosnews has local coverage. AP has more.

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.