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Ex Fargoil boss detained [More on Yukos affair.]
Finance24, SA ^ | 18JUN05 | Edited by Adrienne Taylor

Posted on 06/15/2005 1:56:03 AM PDT by familyop

Moscow - Authorities have detained the former chief of a Yukos subsidiary, the embattled oil company confirmed on Monday, saying the allegations against Antonio Valdes Garcia were unfounded.

A website established by lawyers for the jailed former Yukos CEO, Mikhail Khodorkovsky, had said on Friday that Garcia was detained the day before upon arrival in Russia.

A Yukos spokesperson said Garcia, a native of Russia, also had Spanish citizenship.

Garcia was general manager of Yukos subsidiary Fargoil until last year, Yukos said on its website.

He was being held in Moscow while being interrogated by Russian prosecutors, it said.

The prosecutor general's office could not immediately be reached for comment.

In August, prosecutors raided Yukos offices and seized documents in what they said was part of an investigation into the alleged embezzlement of 31bn rubles (US$1.06bn) by Yukos executives in 2001 using Fargoil.

According to a report from the Russian group For Human Rights, prosecutors claim Fargoil acted as a dummy company for embezzlement by individuals within Yukos, receiving funds illicitly transferred from Yukos accounts under the guise of payment for consulting services.

Interfax said prosecutors were claiming that Yukos managers and employees embezzled US$6bn and took the money out of Russia in 2000-2003 by transferring it to accounts of Fargoil and another company registered in tax havens.

Yukos called the allegations of improper distribution of funds "completely unfounded," saying they were the result of "a lack of understanding or the unwillingness of the Russian tax authorities to comprehend" accounting practices that are accepted in the West.

Khodorkovsky was convicted May 31 on charges including fraud and tax evasion and sentenced to nine years in prison after a trial seen as Kremlin-orchestrated punishment for his funding of opposition political parties.

Formerly Russia's largest oil producer, Yukos has been dismantled to pay back-tax claims, and its main production ended up in state hands after being sold by the government in a widely criticised December auction.


TOPICS: Business/Economy; Extended News; Foreign Affairs; News/Current Events; Russia
KEYWORDS: economy; finance; investment; property; russia; yukos

1 posted on 06/15/2005 1:56:03 AM PDT by familyop
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To: BringBackMyHUAC; Tailgunner Joe

...and more here.


2 posted on 06/15/2005 2:05:45 AM PDT by familyop ("Let us try" sounds better, don't you think? "Essayons" is so...Latin.)
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To: familyop; texasbluebell
Human rights group SAYS..... Oh, just another GEORGE SOROS funded group up to no good in Russia.... reminds me of Move-On right here in the USA... and al their HATRED and LIES about President George Bush during the last election and their evil comments about him and good conservative Americans.

If Soros is backing a group or a CROOK... As a CONSERVATIVE AMERICAN CITIZEN... YOU KNOW THAT GROUP IS LYING THROUGH THEIR TEETH AND ALL THEY WANT IS MORE ADVANTAGE( spelled MONEY and political power) FOR THEIR EVIL/VILE/DISGUSTING BOSS GEORGE SOROS.

Remember folks, Soros hates us conservative AMERICANS and he hates ALL Russians and any people beyond his control!!!

Soros the man who backs: homo marriages, legalised child porn, lowered age of sexual consent to about age 6, legalised drugs of all kinds, legalised prostitution and ABORTION RIGHT UP TO THE 40TH WEEK!!

3 posted on 06/15/2005 5:48:16 AM PDT by Lion in Winter (Getting old is NOT for sissies.... trust me, I know!)
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