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Khodorkovsky pleads not guilty to embezzlement and money laundering

By Bernard Hibbitts (editor) and University of Pittsburgh School of Law students.

[JURIST] Russian oil executive Mikhail Khodorkovsky and his former business partner Platon Lebedev pleaded not guilty Monday to charges of money laundering and embezzlement. Khodorkovsky made two statements to the court, one reflecting his opinion on the charges, and the other specifically refuting each charge. The Russian Prosecutor General's Office filed these new charges against Khodorkovsky and Lebedev in February, alleging that the pair embezzled over $100 million from Khodorkovsky's former company, Yukos. If convicted, Khodorkovsky and Lebedev could face 22 years in prison. Khodorkovsky is currently serving an eight-year prison term for six counts of fraud, for which he was convicted in 2005. Khodorkovsky applied for early release last July, but his application was rejected by a Russian judge in August because he disobeyed guards at the Krasnokamensk penal colony and refused to participate in a training program. Khodorkovsky appealed that decision in September.

Full post as published by JURIST - The Paper Chase on April 21, 2009 (boomark / email).