Russian tycoon’s fraud trial begins

RUSSIA’S richest man, billionaire Mikhail Khodorkovsky, went on trial in Moscow yesterday in a case that will delve into the murky privatisations that accompanied the dismantling of the Soviet Union.

The former boss of the Yukos oil conglomerate and another major shareholder, Platon Lebedev, sat inside a metal cage in court chatting to each other.

The businessmen face charges of fraud, embezzlement and tax evasion in connection with the 1994 privatisation of a big, state-owned fertiliser plant. Both could face about 10 years in prison if convicted. They deny the charges.