Russian oil tycoon convicted of theft and fraud

MIKHAIL KHODORKOVSKY was convicted of theft and money laundering charges yesterday, a verdict that will likely keep the jailed oil tycoon who was once Russia’s richest man behind bars for several more years.

The verdict came less than two weeks after Prime Minister Vladimir Putin said Khodorkovsky was a proven criminal who should sit in prison, a blunt statement reflecting his stance against the man who challenged his power — remarks denounced by critics as interference in the trial.

Putin, who was president during Khodorkovsky’s first trial, has shown no sign of softening his attitude toward the former oligarch.

Putin has not ruled out a return to the presidency in 2012 and critics suspect him of wanting to keep Khodorkovsky incarcerated until after that election.

It was clear from the opening pages of his verdict that the judge had found Khodorkovsky and his business partner Platon Lebedev guilty. Reading the full verdict and announcing the sentence was expected to take several days.

Khodorkovsky, 47, is nearing the end of an eight- year sentence after being convicted of tax fraud in a case seen as punishment for challenging the Kremlin’s economic and political power, in part by funding opposition parties.

The conviction on charges of stealing around $27 billion (€20.5bn) worth of oil his Yukos company produced between 1998 and 2003 and laundering the proceeds could keep him behind bars until at least 2017.

Prosecutors accused Khodorkovsky and Lebedev of stealing the oil from Yukos’ own production units and then selling the oil abroad at higher prices.

The defence called the charges ridiculous, arguing prosecutors do not understand the oil business, including the payment of transit fees and export duties.

Numerous witnesses, including current and former government officials, testified during the 20-month trial that the charges against Khodorkovsky and Lebedev were improbable if not absurd.

One of Khodorkovsky’s lawyers, Vadim Klyuvgant, yesterday dismissed the charges as fabricated and said that the guilty verdict was the result of official pressure.

“If the court were free and independent in issuing its verdict, it would have issued an acquittal,” Klyuvgant told reporters. “What we heard here confirms that the court has faced pressure.”

Hundreds of Khodorkovsky supporters rallied outside the courthouse, holding up signs saying “Freedom” and “Russia without Putin.”

Police detained some of them as they chanted “Freedom” and “Down with Putin!”