You would think me remiss if I did not keep you abreast of the latest Megafon, Alfa, Reiman news. Its from the shit-for-brains Moscow Times so its copied at the bottom.
In using Google's excellent search engine (I am such a trademark good boy) to find a link-friendly version (no luck I am afraid) I came across this from The Royal Gazette. Here's the pertinent bit;
THE Bermuda Supreme Court has recognised a Swiss arbitration ruling that described the island-based IPOC International Growth Fund as a money-laundering organisation.
So here's my precis. A Russian court has issued an arrest warrant for an individual who failed to sell his stake in Megafon to a fund which has been acknowledged by two courts as being involved in money-laundering and backed by a senior official in MinSvyaz.
As The Royal Gazette has it:
It is believed by sources close to the case that a Russian court would be seen as a “friendly” venue by IPOC.Arrest Warrant Issued for MegaFon Investor:
A Moscow court has issued an arrest warrant for the man who sold a 25 percent share in MegaFon in 2003, sparking an international legal battle over the stake.
A court official said Wednesday that a ruling had been handed down Monday to arrest Leonid Rozhetskin on suspicion of serious fraud.
Rozhetskin is an American citizen and his current whereabouts are not known; Russian media have said he divides his time between Britain, France and the United States. It was not immediately clear whether the Russian arrest warrant would be enforced abroad.
Rozhetskin's spokeswoman said she was unaware of the court ruling.
“We have no confirmation of an arrest warrant issued,” Debra Reed said by telephone from Washington.
The dispute began in 2003 when Rozhetskin's company, LV Finance, sold 25.1 percent of MegaFon, the country's third-biggest mobile phone company, to Alfa Group, an investment vehicle for billionaire Mikhail Fridman, for $300 million.
A Bermuda-based emerging markets fund, IPOC, challenged the purchase, saying it had a prior option that gave it the right to buy the MegaFon shares.
The case has been followed closely because a Swiss tribunal ruled this year that IPOC's real master was IT and Telecommunications Minister Leonid Reiman. Reiman has denied that.
IPOC and LV Finance have crossed swords many times in international courts, but no court has issued a final ruling.
In June, IPOC filed a suit in a New York court alleging Alfa conspired with Rozhetskin to steal the fund's 25.1 percent stake in MegaFon through money laundering, bribery, wire fraud and other criminal acts.
Officials from the companies involved declined to comment on the latest court ruling.
[composed and posted with ecto]
Technorati Tags: Corruption, Reiman vs Alfa, Russia
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