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Former chief of YUKOS' subsidiary released on parole

13:27 19/06/2013

TOMSK, June 19 (RAPSI) - Sergei Shimkevich, former chief of YUKOS production subsidiary Tomskneft, who was sentenced to 13 years in prison for large-scale embezzlement, has been released on early parole, a representative of the penitentiary service in the Tomsk Region told RIA Novosti. 

According to the Tomsk Regional Court, on June 6 the Oktyabrsky District Court of Tomsk considered and granted Shimkevich's parole request. The ruling came into effect on June 18.

In April 2011, the Dorogomilovsky District Court of Moscow sentenced Shimkevich to 13 years in a prison colony for colluding with the managers of Intellect Group to sign fictitious contracts. As much as 462 million rubles ($14.5 million), stolen and laundered through several firms controlled by Intellect, were transferred to the company's accounts in 2005-2006. 

Shimkevich was first detained in the Tomsk Region on January 16, 2007 and arrested two days later. A member of the Tomsk regional legislature at the time, he was stripped of his immunity after the court ruled that his actions looked to be of a criminal nature.

In 2010, the Meshchansky District Court of Moscow sentenced Shimkevich to 12 years in prison. According to the investigators, Shimkevich and his accomplices created a criminal group that carried out several fraudulent transactions with the securities of several companies, embezzling 5.93 billion rubles ($186 million) which Tomskneft planned to use to cover its tax arrears.

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Former chief of YUKOS' subsidiary released on parole

13:27 19/06/2013 Sergei Shimkevich, former chief of YUKOS production subsidiary Tomskneft, who was sentenced to 13 years in prison for large-scale embezzlement, has been released on early parole.
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