“The deputy’s inquiry is another attempt [to build] PR-pressure and revive the strife around assets of Aldanzoloto,” said Sergey Vasiliyev, who chairs the board at Russian Funds.
Photo: Ilya Pitalev
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Russian Funds Probed for Laundering
The Federal Financial Monitoring Service and Federal Tax Service of Russia set afoot an inquiry into the business of Russian Funds concerning the possible laundering of criminal revenues. Prosecutors also eye the company. The investigation, the sources say, relates to assets of Aldanzoloto, though the respective conflict was settled in 2005.
It was State Duma’s deputy Vasily Galushkin (United Russia faction), who went to Federal Financial Monitoring Service and Federal Tax Service against Russian Funds. The deputy is concerned about withdrawal of assets from Aldanzoloto to Aldanzoloto Mining Co. and the clashes that followed it.
Holder of 35 percent in Aldanzoloto, Russian Funds spent a few years challenging re-execution of a dozen of licenses for Kuranakh gold-bearing fields and was ultimately sustained in the court. Russian Funds managed to evict Kuranakh once Yakutia’s Arbitration annulled the withdrawal in late 2005.
All of a sudden, Galushkin spotted laundering criminal revenues in Kuranakh recovery. As a result, enforcement bodies are checking Russian Funds, Interfax reported referring to Yury Chikhanchin, deputy head of Federal Financial Monitoring Service. The subject of investigation is possible laundering of revenues.
In Russian Funds, they don’t think Galushkin’s inquiry makes any sense. “The deputy’s inquiry is another attempt [to build] PR-pressure and revive the strife around assets of Aldanzoloto,” said Sergey Vasiliyev, who chairs the board at Russian Funds.
Russian Funds Capital Group was set up in 1999 to arrange issues and placement of bonds, focus on corporate funding, investment and financial consulting. The annual turnover is around $3 billion.
www.kommersant.com
All the Article in Russian as of July 03, 2006
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