Moscow court sanctions arrest of prominent Armenian businessman and philanthropist

Moscow court sanctions arrest of prominent Armenian businessman and philanthropist

YEREVAN, July 17. / ARKA /. A local court in the Russian capital city Moscow has sanctioned the arrest of Russian Armenian businessman and benefactor Levon Hayrapetyan.  

Hayrapetyan was detained July 15 by the Russian Federal Security Service (FSB) on his arrival at a Moscow airport, according to Russian Rosbalt news agency, which cited sources in the Russian government as saying that Hairapetyan's detention stems from the testimony by a former Russian senator Igor Izmestyev, serving a life prison sentence since 2010. 

Izmestyev reportedly pointed to Hairapetyan's involvement in the "financial machinations" around the 2009 sale of Bashneft oil company to AFK Systema holding. Hayrapetyan was its CEO for three years.

According to Russian business news agency RBC, AFK Sistema purchased the majority control of Bashneft, at the time owned by the government of Russian republic of Bashkortostan, for $2 billion. 

Hairapetyan is being accused of receiving a portion of the proceeds. A Sistema representative told RBC that they were not aware of Hairapetyan's involvement in the deal.

According to Russian RIA Novosti news agency, Levon Hayrapetyan is suspected of embezzlement and money laundering.

Earlier, the court ordered the seizure of a Bashneft stake worth 300 million rubles, RIA Novosti said. -0-

15:26 17.07.2014

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