Sultan Humanitarian City Wins Platinum Award at 2022 Patient Safety Congress in Dubai    Saudi Ministry of Justice: 1.5 Million clients benefit from digital conveyance of title deeds    By International Consensus.. Saudi Arabia Retains its Seat in Council of ITU and Radio Regulations Board    Custodian of the Two Holy Mosques Congratulates President of Federal Republic of Germany on Unity Day    Saudi Arabia to Host 25th World Petroleum Congress in 2026    Tadawul All Share Index Decreases by 0.79%, Equity Market Capitalization Reaches SAR 10,832.85 Billion at End of 1st Nine Months 2022    Asian Shares Mostly Lower    Weather Forecast for Monday    KSrelief Concludes the 11th, 12th Volunteer Program in Zaatari Camp for Syrian Refugees in Jordan    King Salman receives written message from Azerbaijan president    Saudi Arabia, UK explore increased trade, investment opportunities Keaveny arrives in Riyadh in first visit as Lord Mayor of London    King, Crown Prince congratulate Guinea president on Independence Day    Recycling by 2035 will contribute to an annual income of SR120 billion    18 new benefit added to health insurance policy    Dr. Khalid Al-Sabti, a techy savvy leader, taking ETEC to new heights KAUST workshop on 'Basics of AI' begins at ETEC    Global philosophers to discuss science and philosophy in 2nd Riyadh Conference in December    Prince Abdulaziz to head Saudi delegation to OCA meetings in Cambodia    Jail, fine for citizens involved in forging official documents of a Saudi embassy    Al-Manea: Selling gold in installments is not permissible    MAWANI, Tabadul Sign MoU to Develop New Saudi Ports Management Systems    174 dead in Indonesian football stadium crush    Brazil polarized as Bolsonaro seeks re-election and Lula aims for comeback    Vehicle Overturn Kills 26, Injures 10 in India    At Least 127 People Killed, 180 Injured at Football Match in Indonesia    UN chief condemns any attempt to seize power by the force of arms    King Charles will not attend COP27, says Palace    Saudi Arabia gets four memberships in IOC commissions    Al-Khuwaitm turns in golden display in Girls Gymnastics Championship in Riyadh    15 cups of Saudi coffee in a day are enough!    Riyadh hosts first Saudi Games on Oct. 27    19 women, 2 men qualify as Kingdom's first yogasana referees    Movies return to Kashmir with Hrithik Roshan-starrer    Body of famed US climber found on Mt Manaslu in Himalayas    Yoga introduced to Saudi universities    Islamic Minister Al-Sheikh: Juristic judgment catalyst to salvage Islamic Ummah    Culinary Arts Commission Registers 13 Foods on Slow Food List of Endangered Food    72% of Children Globally have been Victims of Cyber Threats    Saudi National Football Team Continues Preparations for Friendly Match against Ecuador    Saudi Futsal Team Beats San Marino, Wins Silver in Croatian International Championship    During 2nd Global AI Summit.. AI-powered Early Breast Cancer Detection Program Launched    Triple talaq: India Muslim women in limbo after instant divorce ruling    Film Commission Reviews Film Industry Prospects in Saudi Arabia at Venice International Film Festival    Saudi national volleyball team loses to Kyrgyzstan in Asian Challenge Cup final    Saudi national volleyball team beats Uzbekistan, qualifies for the final of the Asian Challenge Cup    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    Pilgrims Perform Dhuhr and Asr Prayers at Arafat Holy Site    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

New evidence highlights corrupt Abramovich deals
Published in The Saudi Gazette on 15 - 03 - 2022

A BBC investigation has uncovered new evidence about the corrupt deals that made Roman Abramovich's fortune.
The Chelsea owner made billions after buying an oil company from the Russian government in a rigged auction in 1995.
Abramovich paid around $250m (£190m) for Sibneft, before selling it back to the Russian government for $13bn in 2005.
His lawyers say there is no basis for alleging he has amassed very substantial wealth through criminality.
The Russian billionaire was sanctioned by the UK government last week because of his links to Russian President Vladimir Putin.
Abramovich's assets have been frozen and he has been disqualified as a director of Chelsea Football Club.
The Russian billionaire has already admitted in a UK court that he made corrupt payments to help get the Sibneft deal off the ground.
He was being sued in London by his former business associate Boris Berezovsky in 2012.
Abramovich won the case, but he described in court how the original Sibneft auction was rigged in his favour and how he gave Mr Berezovsky $10m to pay off a Kremlin official.
BBC Panorama has obtained a document that is thought to have been smuggled out of Russia.
The information was given to the programme by a confidential source, who says it was secretly copied from files held on Mr Abramovich by Russian law enforcement agencies.
The BBC cannot verify that, but checks with other sources in Russia have backed up many of the details in the five-page document.
The document says that the Russian government was cheated out of $2.7bn in the Sibneft deal - a claim supported by a 1997 Russian parliamentary investigation. The document also says that the Russian authorities wanted to charge Mr Abramovich with fraud.
It says: "The Dept. of Economic Crimes investigators came to the conclusion that if Abramovich could be brought to trial he would have faced accusations of fraud... by an organised criminal group."
Panorama tracked down Russia's former chief prosecutor, who investigated the deal in the 1990s.
Yuri Skuratov did not know about the secret document, but he independently confirmed many of the details about the Sibneft sale.
Skuratov told the programme: "Basically, it was a fraudulent scheme, where those who took part in the privatisation formed one criminal group that allowed Abramovich and Berezovsky to trick the government and not pay the money that this company was really worth."
The document also suggests Mr Abramovich was protected by former Russian President Boris Yeltsin.
It says law enforcement files on Mr Abramovich were moved to the Kremlin and that an investigation by Mr Skuratov was stopped by the president.
The document says: "Skuratov was preparing a criminal case for the confiscation of Sibneft on the basis of the investigation of its privatisation. The investigation was stopped by President Yeltsin ... Skuratov was dismissed from his office."
Skuratov was sacked after the release of a sex tape in 1999. He says it was a stitch-up to discredit him and his investigation.
He said: "This whole thing was obviously political, because in my investigations I came very close to the family of Boris Yeltsin, including via this investigation of the Sibneft privatization."
Abramovich remained in the Kremlin inner circle when Vladimir Putin came to power in 2000.
The document contains details of another rigged auction two years later, involving a Russian oil company called Slavneft.
Abramovich formed a partnership with another firm to buy Slavneft, but a rival Chinese company was planning to bid almost twice as much.
Many powerful people - from the Kremlin to the Russian parliament - would have stood to lose out if the Chinese won the auction.
The document says that a member of the Chinese delegation was kidnapped when they arrived in Moscow for the auction.
"CNPC, Chinese company, a very strong competitor, had to withdraw from the auction after one of its representatives was kidnapped upon arrival at Moscow Airport and was released only after the company declared its withdrawal."
The kidnapping story is backed up by independent sources who did not know about the document.
Vladimir Milov was Russia's deputy energy minister in the run up to the Slavneft sale. He didn't comment on the kidnapping story, but he said senior political figures had already decided that Mr Abramovich's partnership would win the auction.
"I said, look, the Chinese want to come in and they want to pay a much bigger price. They say it doesn't matter, shut up, none of your business. It's already decided. Slavneft goes to Abramovich, the price is agreed. The Chinese will be dragged out somehow."
There is no suggestion that Abramovich knew anything about the kidnapping plot, or played any part in it.
His lawyers told the BBC the kidnap claim "is entirely unsubstantiated" and he has "no knowledge of such incident".
Different factions had been fighting for control of Slavneft and there was widespread opposition to the Chinese bid.
Whatever the reason for the Chinese withdrawal, Abramovich's partnership had the only bid left on the table. And they bought Slavneft at a knockdown price.
Mr Abramovich's lawyers say allegations of corruption in the Slavneft and Sibneft deals are false, and he denies he was protected by Yeltsin. — BBC

Clic here to read the story from its source.