Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Details Emerge of Criminal Case Against Russia's RBC Media

Maxim Stulov / Vedomosti

Independent Russian media company RosBusinessConsulting (RBC) has been accused of defrauding shareholders of one million rubles ($15,400), the Kommersant newspaper reported Thursday.

The Russian Interior Ministry launched the criminal case in late April after claims from shareholder Alexander Panov that he was deprived of his stock following the media holding's sale of a company in which he held shares.

Panov and his business partner owed a 25-percent share in ?€?Byte-Telecom,?€? a company that was part of the RBC holding until it was sold in 2014. Police estimated the alleged damage at one million rubles ($15,400), Kommersant reported, citing the police.

RBC general director Nikolai Molibog wrote Wednesday on Facebook that the sale of ?€?Byte-Telecom?€? was in full compliance with the law and that the company had reported annual multi-million ruble losses for several years prior to the sale.

He also wrote that RBC Holding had sued Panov for libel last year. The court ruled in the holding's favor and ordered Panov to pay compensation.

Police are now investigating the media holding's top management following Panov's report, Russia's RNS news agency reported. Russia's Prosecutor General is also investigating two more cases of alleged fraud by the RBC holding, Kommersant reported.

RBC is owned by ONEXIM Group, a private investment fund belonging to Russian billionaire Mikhail Prokhorov. Russia's Federal Security Service (FSB) raided the ONEXIM Group?€™s Moscow premises in mid-April on suspicion of tax evasion. No criminal case was launched after the raid, Kommersant reported.

RBC launched Russia's only business television network in 2003. It broadcasts around the clock to over 90 million viewers in Russia, Europe, North Africa, the Middle East and Central Asia, according to the company's website.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

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 you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more