Workers prepare a Volgotanker company freighter for navigation during winter berthing
Photo: Valery Melnikov
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Volgotanker's Managers Threatened with Arrest
The Prosecutor’s Office of Samara Region has filed a request with the Samara District Court to give its sanction to arrest managers of Volgatanker. They are accused of the illegal indemnity of the VAT to the sum of 700 million rubles that the company received in 1999-2005. Prosecutors believe that given new circumstances in the case (the rise in tax claims) the court is most likely to issue the arrest warrant.
Volgotanker is Russia’s largest river carrier of oil products. 20 percent in the company belongs to the state and has been put up for auction this year. 75.99 percent pertains to Cyprus offshore companies unofficially controlled by Volgotanker’s management. The criminal case on tax evasion was initiated summer 2004 and contended that that heads of the company illegally got 700 million rubles-worth indemnity for the VAT in 1999-2005. Any Russian transportation company is eligible fro the indemnity of the VAT in case cargoes are transported abroad. The prosecutor’s office states that cargoes were actually transported by the Dutch Volgotanker Marine Services A/S which the Russian companies handed its ships on freight.
Top managers of Volgotanker were charged in their absence with fraud and legalization of profits. The Prosecutor’s Office has been seeking their arrest but court has turned down the appeals. Now sources at the prosecutors maintain that as tax claims for the carrier rose and dissatisfied minor shareholders of the company engaged in the case against Volgotanker chances to obtain arrest warrants for some leaders of the company are quite strong.
www.kommersant.com
All the Article in Russian as of Sep. 19, 2005
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