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  Tuesday, December 10, 2019
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Top executives of Yukos subsidiaries have pleaded not guilty to defrauding the state of $13 billion and laundering $8 billion
Top executives of Yukos subsidiaries have pleaded not guilty to defrauding the state of $13 billion and laundering $8 billion. The court convened Friday for closed hearings of charges against three defendants in a case connected with the embattled Yukos Oil Company. "The defendants and lawyers have said they do not understand the charges and pleaded not guilty," an official from Moscow's Basmanny Court said. After announcing the indictment and questioning two witnesses, the court adjourned until June 19 when it will question Vladimir Pereverzin, former Yukos deputy director for external debt, who is charged with money laundering and embezzling 248 billion rubles ($9.05 billion). Vladimir Malakhovsky, former director general of Ratibor LLC, is accused of embezzling 7.5 billion rubles ($273.82 million). Valdes Garcia, former director of Yukos trading company Fargoil, is suspected of being involved in money laundering. Investigators said the ex-Yukos officials had masterminded a scheme to sell crude oil through companies under their control, acting both as fictitious owners and buyers. Both Pereverzin and Malakhovsky were arrested in December 2004 and are in custody. Garcia, who holds dual Spanish-Russian citizenship, was arrested at Moscow's Sheremetevo airport upon arriving in Russia on June 10, 2005, and has been banned from leaving the country.
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