The Courts have questions about Bashneft’s history

The Russian law enforcement bodies have questions into circumstances of the purchase of the Bashkir fuel and energy assets, which were then combined into Bashneft, by AFK Systema from Ural Rakhimov’s structures in 2009. Yesterday, the Basmanny Court of Moscow arrested the businessman Levon Hayrapetyan, who, according to investigators, was an accomplice of Ural Rakhimov. He is suspected of embezzlement and the laundering of the proceeds from crime; Bashneft’s shares worth 300 million rubles, which belong to Hayrapetyan, were arrested. But 71.8% of Bashneft, owned by AFK Systema, also fell under arrest.

Yesterday, the Basmanny Court of Moscow arrested chairman of Sobesednik, Levon Hayrapetyan. He is a defendant in a criminal case, initiated by the Russian Investigation Committee against Ural Rakhimov, the son of the former president of Bashkortostan, Murtaza Rakhimov. Ural Rakhimov is suspected of embezzling shares of the Bashkir fuel and energy sector, which were sold to AFK Sistema in 2009, as well as of money laundering. Within the investigation the Hayrapetyan’s shares to the amount of about 300 million rubles, which he received in the transaction, were arrested; the investigation is going to take the arrest another 3.5% of the businessman’s shares. But 71.8% of Bashneft, owned by AFK Systema also fell under arrest. As the Kommersant’s sources, close to Sistema, say, today the corporation is going to appeal the arrest of the securities. AFK Systema declined to comment yesterday.