Leonid Rozhetskin, U.S. businessman of Russia's origine, went missing in his home in Jurmala at night of March 16.
Photo: Yury Martyanov
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Rozhetskin Gone Missing in Latvia
Latvian police launched yesterday the search for Leonid Rozhetskin, the U.S. businessman of Russia’s origin, who disappeared from his home in the coastal resort of Jurmala. In Russia, Rozhetskin is notorious as a mastermind of a few historical deals, including the purchase of 25 percent in Svyazinvest by Mustcom in 1997. Moscow prosecutors added him to the international wanted list after the sale of a blocking stake in MegaFon. People close to Rozhetskin speculate he might have staged his adduction.
Police in Latvia informed the local media yesterday that they were hunting for Leonid Rozhetskin, the U.S. resident born in 1966, who had disappeared from his home in Jurmala at night of March 16 under unknown circumstances.
The details emerged later. According to the police, the businessman, whom Moscow Prosecutors want on count of stealing $40 million from IPOC, arrived in Latvia in his private plane in the end of past week. He was to meet the house manager in the morning of March 17, the manager was in time for the meeting but saw no Rozhetskin. Everything was upside-down in the house, the furniture was broken and there were traces looking like blood on the floor. Having thought of abduction, the manager went to police.
The criminal case hasn’t been initiated yet. People in police wait, perhaps, for the expert reports confirming that it was really the blood at Rozhetskin’s home. The car of the businessman has been discovered in its place.
In Russia, Rozhetskin is notorious as the mastermind of a few deals. The first is the NYSE IPO of VimpelCom made in December of 1996. It was the first placement of Russia’s stocks there since 1917.
Rozhetskin took over Mustcom consortium in summer of 1997. Mustcom implemented one of the biggest and most scandalous privatization deals in Russia’s history – the purchase of 25 percent in the state-run Svyazinvest for $1.875 billion.
But of all business-projects of the businessman, the deal that was made with MegaFon stocks in summer of 2003 remains the most stunning undertaking. At that time, Rozhetskin was the chief of LV Finance that was directly involved in MegaFon creation, owing 25 percent in the operator via CT-Mobile. In summer of 2003, CT-Mobile (along with a blocking stake in MegaFon) was sold for $256 million to Alfa Group, the holder of MegaFon key rival, VimpelCom. All holders of MegaFon opposed the deal with IPOC being the most aggressive of them.
According to IPOC, the deal violated the option agreement that LV Finance and IPOC concluded in 2001. Exactly IPOC initiated the trials in international courts, attempting to prove its title to MegaFon. IPOC’s claims for 22.3 percent in the operator were upheld in Geneva in August of 2004. In May of 2006, however, Zurich Arbitration backed up Alfa, having reasoned that Russia’s IT and Communications Minister Leonid Reiman was behind the IPOC. The minister denied the involvement, of course.
Moscow prosecutors opened a case against Rozhetskin in December of 2004, charging him with the theft of $40 million from IPOC that was paid to LV Finance in two tranches under the option agreements. The businessman was added to the international wanted list in 2006.
www.kommersant.com
All the Article in Russian as of Mar. 19, 2008
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