Install

Get the latest updates as we post them — right on your browser

. Last Updated: 05/22/2013

TNK-BP Executive Arrested Over Fraud

Reuters

A manager at Anglo-Russian oil firm TNK-BP has been arrested on suspicion of fraud, the Interior Ministry and the company said.

The Interior Ministry said in a statement that the suspect, who had previously worked in the Irkutsk regional government, had in September offered jobs in the Kremlin to two businessmen in return for payments of $3 million apiece.

TNK-BP in an e-mailed statement Friday confirmed that the man arrested was Igor Korneyev but said the arrest was not connected to his work at the company.

The Interior Ministry said the suspect, whom it did not name, “was arrested while receiving an advance payment of 3 million rubles ($97,500),” adding that he had worked in government relations at TNK-BP.

The company said Korneyev has worked at TNK-BP for three months, adding that he had not been directly involved in its affairs and had gone on a training course.

TNK-BP is a 50-50 joint venture between Britain’s BP and a quartet of Soviet-born billionaires — both of which, sources say, have received buyout offers totaling over $50 billion this week from state-controlled oil major Rosneft.

Executives at TNK-BP have had run-ins with law enforcement at times of shareholder friction. Two managers were arrested in 2008 amid a dispute over strategy that forced then-CEO Bob Dudley, who now heads BP, to flee Russia.

TNK-BP also faces corruption allegations from its former head of new business, Igor Lazurenko, who may release documents he says are evidence of high-level corruption in the company and in government.

The company has denied wrongdoing, but a London court this week lifted a gag order on the Lazurenko papers. The injunction will stay in force until the close of business Friday to allow time for an appeals court hearing.

Related articles:



comments powered by Disqus



Also in Business

Rogozin Says Defense Ministry Won't Be Stripped of Pricing Function

Deputy Prime Minister Dmitry Rogozin said Wednesday that the Defense Ministry would bear responsibility for the pricing of military equipment, despite Defense Minister Sergei Shoigu's earlier plans to get rid of the function.

Banker Kim Seeks Foreign Assets

Igor Kim snapped up cast-off assets from foreign banks pulling out of Russia, and now the banker says he wants to expand into Europe.

Wheels: Opel's New Astra Adds Speed to an Old Standard

Opel's updated Astra provides the same old reliable performance and functionality while adding many modern amenities.

New Publisher Named to The Moscow Times

Ekaterina Movsumova has been selected as the new publisher of The Moscow Times, replacing Ekaterina Son, the paper's parent company Sanoma Independent Media announced on its website Tuesday.

VTB 24, Housing Mortgage Agency Cutting Loan Rates

Following Sberbank, two other major players on the mortgage market, VTB 24 and the Housing Mortgage Agency, announced that they are cutting lending rates, Vedomosti reported.

Moscow Seeks $6.45Bln in Metro Cars

City Hall will hold a first-of-its-kind tender for 2,500 to 3,500 metro cars in August, and the winner will get a 30-year contract.



print


Tags
energy


Most Read
advertising
Moscow Directory
DELIKATNY PEREEZD

Local & intercity moves...

LA BOTTEGA

Over 170 wines on the wine list, mainly from Italy, France and Spain...