Merkulov didn’t admit guilt in the court. His lawyers said all projects were absolutely legal and transparent.
Photo: Dmitry Lekay
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Businessman Condemned for Attempt on Investments
The Tver Court of Moscow condemned yesterday Igor Merkulov, general director of Intercom and former advisor to former president of Ukraine Leonid Kravchuk. Merkulov attempted to raise billions for automobile industry, public health and production branches but was caught because of bidding for Yuganskneftegaz. As it turned out, the letters of credence allegedly written by influential officials were all fake and his investment projects were just an attempted fraud.
It is interesting that delivering the verdict on Merkulov’s case had been put off twice. The sentence was passed only yesterday, and the doors of the courtroom were closed for purposes of secrecy, which reasons are yet unclear. One of Merkulov’s lawyers said his client didn’t want publicity, but no appeal on closing the procedures had been ever filed.
Merkulov set up Intercom in April 2004 to attract foreign funds in Russia. For solidity, he lured the retired KGB Gen Lev Gorsky, 74, having appointed him the BOD chairman.
Later on, Gorsky claimed he fell victim to “impurity of partner.” Only Merkulov’s case reached the court, while the criminal persecution of Gorsky stopped May 2005 due to the amnesty.
The projects eyed by Intercom meant real money. Merkulov attempted, for instance, to raise $120 million to construct a new cancer detection center in Moscow, negotiated $200 million to build Volkswagen plant near Moscow and at least $1.5 billion to construct Neisk Pulp and Paper enterprise in the Kostroma region.
The Federal Security Service paid attention to Intercom because of Yuganskneftegaz tender. In November 2004, Merkulov applied to Russian Federal Property Fund (Russian abbreviation is RFFI) to bid for Yuganskneftegaz that was owned by YUKOS. He failed to provide the deposit of $1.7 billion, and Intercom was crossed out of the list of bidders. But it was not the end of the story, as Federal Security Service thought it rather strange that a firm with the stock capital of just 10,000 rubles was reaching out for projects of that size.
Merkulov and Gorsky were detained December 2004. When searching Intercom office, the investigators found letters of credence as if from Russia’s prominent officials, including RFFI deputy chief Valery Fatikov, YUKOS BOD Chairman Viktor Gerashchenko, Deputy PM Alexander Zhukov. The fake documents found by enforcement officers in Intercom promised to clear the YUKOS debt to the budget.
Merkulov didn’t admit guilt in the court. His lawyers said all projects were absolutely legal and transparent. As to the fake letters, Merkulov had nothing to do with them, as “the ties with government” were Gorsky’s concern.
Yesterday, the court condemned Merkulov to four years in general colony, and his lawyers vowed to appeal the sentence.
www.kommersant.com
All the Article in Russian as of Aug. 24, 2006
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