Russian billionaire Yevtushenkov released from house arrest

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Economy

19.09.2014, 18:10

Russian billionaire Vladimir Yevtushenkov, chairman of the telecoms-to-oil conglomerate AFK Sistema, has been released from house arrest, Russia-24 TV company said today citing a Sistema representative.

Russian billionaire Yevtushenkov released from house arrest

YEREVAN, 19 September. / ARKA /. Russian billionaire Vladimir Yevtushenkov, chairman of the telecoms-to-oil conglomerate AFK Sistema, has been released from house arrest, Russia-24 TV company said today citing a Sistema representative.

Yevtushenkov, chairman and majority owner of the Russian diversified holding company Sistema, was placed on September 16 under house arrest on suspicion of involvement in a money-laundering scheme with the assets of oil companies in the Urals Republic of Bashkortostan, which are now part of Bashneft oil producer controlled by the tycoon.

Yevtushenkov was ranked by Forbes among Russia’s 20 richest people with an estimated fortune of $9 billion.

Russian investigators accuse Yevtushenkov of involvement in a money-laundering scheme, in which Sistema acquired Bashkortostan’s oil firms that had been earlier privatized by Ural Rakhimov, a son of the republic’s former head, Murtaza Rakhimov

The charges were denied by Sistema that described them as ungrounded,” saying it will use all available means to resolve this situation. -0-

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