Title: Arrested oil tycoon passed shares to banker -- The Washington Times
| -Caveat Lector-
Apparently the Rothschilds are not merely
a conspiracy legend in the year 2003...
The Washington
Times
www.washingtontimes.com
Arrested oil tycoon passed shares to bankerTHE WASHINGTON
TIMES
Published November 3, 2003
LONDON (Agence France-Presse) — Control of
Mikhail Khodorkovsky's shares in the Russian oil giant Yukos have passed
to renowned banker Jacob Rothschild, under a deal they concluded prior to
Mr. Khodorkovsky's arrest, the Sunday Times reported.
Voting rights to the shares passed to Mr.
Rothschild, 67, under a "previously unknown arrangement" designed to take
effect in the event that Mr. Khodorkovsky could no longer "act as a
beneficiary" of the shares, it said.
Mr.
Khodorkovsky, 40, whom Russian authorities arrested at gunpoint and jailed
pending further investigation last week, was said by the Sunday Times to
have made the arrangement with Mr. Rothschild when he realized he was
facing arrest.
Mr. Rothschild now controls the
voting rights on a stake in Yukos worth almost $13.5 billion, the
newspaper said in a dispatch from Moscow.
Mr.
Khodorkovsky owns 4 percent of Yukos directly and 22 percent through a
trust of which he is the sole beneficiary, according to Russian analysts.
From the figures reported in the Sunday Times,
it appeared Mr. Rothschild had received control of all Mr. Khodorkovsky's
shares.
The two have known each other for
years "through their mutual love of the arts" and their positions as
directors of the Open Russia Foundation, Yukos' philanthropic branch, it
said.
Russian authorities Thursday froze
billions of dollars of shares held by Mr. Khodorkovsky and his top
lieutenants in Yukos — throwing control of the country's largest oil
company into limbo and causing frenzied selling on financial markets.
Russian prosecutors said owners of the shares
are still entitled to dividends and retain voting rights, but can no
longer sell their stakes.
They said the freeze
was necessary as collateral for the $1 billion that Mr. Khodorkovsky and
his associates are accused of misappropriating during the 1990s.
Mr. Rothschild is the British head of Europe's
wealthy and influential Rothschild family, and runs his own investment
empire.
Copyright © 2003 News World
Communications, Inc. All rights reserved.
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