Yukos Execs Found Guilty Of Embezzling $13B

Law360, New York (March 1, 2007, 12:00 AM EST) -- Two former Yukos executives on Thursday were found guilty of embezzling $13 billion from the oil company by buying oil from Yukos subsidiaries at artificially low prices and then reselling it.

Vladimir Malakhovsky, former head of Yukos affiliate Ratibor and Vladimir Pereverzin, the former director of Yukos' external debt department, are accused of illegally transferring $13 billion in crude oil sales out of the country through Yukos subsidiary Fargoil between 2000 and 2003.

The two men are the latest to be sentenced in the ongoing court...
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