St. Petersburg television is being buffeted on all fronts: While razor-tongued hardliner Alexander Nevzorov points an accusatory finger and shouts "Corruption!" television officials claim that the station is being subjected to a campaign of libel and terror.


Nevzorov told a press conference Wednesday that a Finance Ministry investigation into Channel 5's finances found that more than 13 billion rubles ($3.97 million) have been embezzled from the company, most of it funneled into the private accounts of Channel 5's general director, Bella Kurkova.


Viktor Pravdyuk, Kurkova's deputy, dismissed Nevzorov's charges. "Yes, there was an investigation, and preliminary results have been released," he said in a telephone interview. "But there are no billions involved. And we have done nothing criminal. This is a completely unfounded accusation. It is just wishful thinking by Nevzorov."


Pravdyuk complained that Channel 5 employees were being subjected to a campaign of political terror. Kurkova was attacked and badly beaten in September; her deputy, Vladislav Nech-ayev, was attacked a few weeks later.


"These are not accidental occurrences," said Pravdyuk. "There is a political flavor to these attacks. But we are not going to point fingers. We will never sink to the level of Nevzorov."


Nevzorov denied that there was any political motivation for the attacks.


"On the day Kurkova was attacked, 30 other old ladies were bashed on the head. Nobody got excited about them. As for Nechayev -- I have seen the reports, and although I probably should not say anything, there seem to be some business dealings involved."


Nevzorov smiled. "I would have known if these attacks were politically motivated. And I would have stopped them. I do not want to spoil the pleasure of seeing Bella Kurkova arrested."


There has long been bad blood between Nevzorov and Channel 5. His program "600 Seconds" became a voice for the ultranationalist opposition, and was banned by the government following the October 1993 violence in Moscow.


Nevzorov was elected a deputy to the State Duma in December 1993 and then fired from his Channel 5 position. Pravdyuk insists the position of deputy is incompatible with that of television journalist. Nevzorov disagrees, and has taken Channel 5 to court.


"We are still fighting him," said Pravdyuk.


Commenting on the investigation of Channel 5, Vasily Kabachinov, chief auditor for the Finance Ministry commission that conducted the probe, said that Nevzorov's figures were "somewhat inexact." The matter now lies with St. Petersburg's Public Prosecutor's Office.


The accusations of corruption are not new. Kurkova's deputy, Mikhail Syroyezhkin, disappeared earlier in the year and has been charged with embezzling $1.5 million. Pravdyuk insisted that the funds mentioned in the Finance Ministry report were those allegedly stolen by Syroyezhkin.


"But the station has paid off all its creditors, and things are perfectly normal here," he said.