Jailed Russian oil tycoon Khodorkovsky loses appeal

Russian oil tycoon Mikhail Khodorkovsky has lost an appeal against his eight-year jail term for fraud and tax evasion.

In a letter, the Moscow City Court informed Khodorkovsky’s defence team it saw no grounds for reconsidering his sentence, attorney Genrikh Padva said according to news agencies.

In May 2005, a Moscow district court sentenced Khodorkovsky to nine years in jail and the prison term was later reduced on appeal to eight years.

Padva said that another appeal had already been lodged with Russia’s Supreme Court.

Khodorkovsky, 42, once Russia’s richest man, was convicted after a trial seen as punishment for his political ambitions and part of a state drive for control of the crucial oil industry.

The largest unit of Khodorkovsky’s Yukos oil empire was effectively nationalised to pay off billions of dollars in back taxes in December 2004 and it remaining assets are expected to be sold off this year.