RUSSIA: MOSCOW COURT ORDERS FORMER CHIEF EXECUTIVE OF OIL GIANT YUKOS MIKHAIL KHODORKOVSKY TO REMAIN IN JAIL PENDING TRIAL UNTIL MAY 25

Record ID: 344972

  • Title: RUSSIA: MOSCOW COURT ORDERS FORMER CHIEF EXECUTIVE OF OIL GIANT YUKOS MIKHAIL KHODORKOVSKY TO REMAIN IN JAIL PENDING TRIAL UNTIL MAY 25
  • Date: 19th March 2004
  • Summary: (U7) MOSCOW, RUSSIA (MARCH 19, 2004) (REUTERS) 1. DEMO OF MIKHAIL KHODORKOVSKY'S SUPPORTERS OUTSIDE MOSCOW BASMANNY COURT 0.14 2. CU: KHODORKOVSKY'S PORTRAIT 0.17 3. ARMOURED VEHICLE OUTSIDE COURT 0.25 4. VARIOUS OF DEMO (2 SHOTS) 0.33 5. (SOUNDBITE)(English) ROBERT AMSTERDAM, KHODORKOVSKY'S LAWYER, SAYING: "There is a political motive. There is an improper purpose behind this. It has absolutely nothing to do with the charges. This is political. It relates to political and economic issues within Russia. It is a misuse of the judicial system." 0.52 (NIGHTSHOTS) 6. SECURITY OUTSIDE COURT 1.00 7. VARIOUS OF POLICE VAN WITH KHODORKOVSKY INSIDE LEAVING COURT (2 SHOTS) 1.20 (U7) MOSCOW, RUSSIA (RECENT) (REUTERS) 8. PAN DOWN/CU: EXTERIOR OF YUKOS OFFICE AT NIGHT/ YUKOS SIGN (2 SHOTS) 1.34 (U7) MOSCOW, RUSSIA (FILE) (REUTERS) 9. VARIOUS OF KHODORKOVSKY WITH CHILDREN AT YUKOS-SPONSORED CHARITY EVENT (2 SHOTS) 1.51 Initials Script is copyright Reuters Limited. All rights reserved
  • Embargoed: 3rd April 2004 13:00
  • Keywords:
  • Location: MOSCOW, RUSSIA
  • Country: Russia
  • Reuters ID: LVAD4LE6KZBWVTG5P5K2FV4J385I
  • Story Text: Former chief executive of oil major YUKOS, ordered
    to remain in jail.


    Moscow Basmanny Court on Friday (March 19) ordered
    the former chief executive of oil major YUKOS, Mikhail
    Khodorkovsky, to remain in jail pending trial until May 25.

    "There is a political motive. There is an improper
    purpose behind this. It has absolutely nothing to do with
    the charges," Robert Amsterdam, one of Khodorkovsky's
    lawyers, said after the ruling was handed down. "This is
    political. It relates to political and economic issues
    within Russia. It is a misuse of the judicial system," he
    added.

    Friday's court sitting, lasting more than seven hours,
    was the latest of several attempts by defence lawyers to
    secure the release of the politically ambitious magnate on
    bail as prosecutors prepare their case against him.

    Khodorkovsky, charged with tax evasion and mass fraud,
    was arrested at gunpoint aboard an aircraft last October.

    Liberals have denounced months of legal proceedings
    against him and YUKOS as selective justice while other
    businessmen who benefited from the chaotic privatisations
    of the 1990s remained free from legal challenge.

    The legal case against Khodorkovsky has shaken
    confidence among investors in Russia.

    Analysts have said the arrest, and a broader attack on
    YUKOS, was orchestrated by the Kremlin to punish the
    billionaire for political activities.

    Prosecutors have succeeded to extend a remand order
    which was due to expire on March 30. The order has kept the
    ambitious tycoon in prison throughout Russia's presidential
    election, which President Vladimir Putin won easily.

    One of Khodorkovsky's lawyers, Genrikh Padva, said
    before the hearing that the defence was informed of the
    hearing only on the previous evening and did not have a
    chance to prepare.

    Putin, who has pledged that businessmen who broke laws
    during the chaotic sell-off of state property in the 1990s
    must face the consequences, has not commented on YUKOS
    since his re-election.

    Kremlin officials have shown no signs that their position
    towards YUKOS or Khodorkovsky has softened, and
    analysts said they saw very little likelihood of
    Khodorkovsky's release on Friday.

    The General Prosecutor's Office has said it sees no
    chance of an out-of-court settlement for Khodorkovsky, but
    it may take his lawyers a year or more to study his case.

    If found guilty, Khodorkovsky could face up to 10 years
    in jail.

    Within days of Khodorkovsky's arrest, prosecutors impounded
    a major stake in YUKOS belonging to Khodorkovsky
    and his allies.

    Tax authorities also said YUKOS may owe $5 billion in
    back taxes.

    In November, amid legal pressure from the authorities,
    YUKOS's smaller partner, Sibneft, suspended a nearly
    completed $11 billion merger with the giant. The two firms
    are currently in complex divorce talks.



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