Support The Moscow Times!

TNK-BP Executive Arrested Over Fraud

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:

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more