Russia prosecutors open criminal probe into Yukos bankruptcy fraud allegations Jaime Jansen at 2:12 PM ET
[JURIST] The Russian Prosecutor General's Office [official website, in Russian] has begun a criminal investigation into possible fraud stemming from bankruptcy proceedings for Russian oil giant Yukos [corporate website; JURIST news archive], according to Tuesday reports from the Itar-Tass news agency. The investigation centers on allegations that former Yukos officials embezzled money by securing a $4.5 billion loan from Yukos Capital SARL, a Luxemburg-based subsidiary and major creditor for Yukos, and masterminded a plan to sell crude oil through subsidiaries under their control.
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