Russian prosecutors charge top 'Oligarch'

Prosecutors charged Mikhail Khodorkovsky, the head of Russia’s largest oil producer, Yukos, today with tax evasion and fraud.

He was charged after the oil magnate was forcibly detained in Siberia and taken to Moscow, the Interfax news agency reported.

For months, the Russian prosecutor’s office has been investigating Yukos company officials and Yukos shareholders hoping to find evidence of tax evasion and theft of state property.

Top Russian businessmen and political leaders have expressed deep concern about the developments surrounding Yukos, saying the investigation is damaging the Russian economy and dissuading foreign investors from sinking their money in Russia.

Khodorkovsky is one of Russia's best known 'Oligarchs' men who made huge fortunes in a very short time after the collapse of the Soviet Union by acquiring state property at low prices.

Chelsea boss Roman Abramovich is another of Russia's famous Oligarchs.