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Russian authorities seek extension of Yevtushenkov's house arrest

15:06 07/11/2014

MOSOW, November 7 (RAPSI) – Investigators have filed an application with the Moscow's Basmanny District Court seeking house arrest extension for AFK Sistema's Chairman Vladimir Yevtushenkov, RAPSI reports from the courtroom on Friday.

A motion hearing is scheduled for November 14.

Yevtushenkov, the board chairman and largest beneficiary of AFK Sistema, stands charged with money laundering in oil producer Bashneft’s stock purchase. The investigation believes that the stock was purchased in 2009 at a purposefully lowered price, resulting in a $500 million “sale”.

AFK Sistema said the charges were unfounded and that it would use all available legal options to settle the conflict.

AFK Sistema directly owned almost 72% of voting shares of Bashneft, which produces about 350,000 barrels of oil a day, and an overall stake of 86.7%, including 12.6% via Sistema-Invest.

In October, The Moscow Commercial Court ordered AFK Sistema, its subsidiary Sistema-Invest to forfeit Bashneft stock.

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Russian authorities seek extension of Yevtushenkov's house arrest

15:06 07/11/2014 Investigators have filed an application with the Moscow's Basmanny District Court seeking house arrest extension for AFK Sistema's Chairman Vladimir Yevtushenkov.
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