Monday, December 27, 2010

Mikhail Khodorkovsky & Platon Lebedev found guilty of embezzlement.

One more for today! First Irish banker bonuses and now onto another bankster.
A behind the scenes bankster family, and their connection to a news story breaking today.
Except you would never know there was any connection.
Good thing I have a long memory.
And I print up news that I find very interesting.
Ironically I came across the background news of this story just a few days ago...

So let's tackle the present news first: Mikhail Khodorkovsky has been found guilty.

Who is Mikhail Khodorkovsky? Who is he connected too?

Some background-

- Mikhail Khodorkovsky was born June 26, 1963

- He opened his first business in 1986, a private cafe, and then in 1987, the Center for Scientific and Technical Creativity of the Youth. The center imported and resold computers, as well as a range of other products.

- In 1987 - four years before the fall of the USSR - he founded what would become Menatep, one of post-Soviet Russia's first private banks.
(At the age of 24 years old, this man has enough business moxy and funds to start one of the first private banks???. From a cafe and used computer business to a private bank?? )

-By 1988, he had built an import-export business with a turnover of $10 million a year.

-He made his first millions in the 1990s when the bank acquired massive amounts of shares in companies that were privatised for bargain prices.

-In December 1995, as a result of the so-called shares-for-loans auctions, Khodorkovsky's Menatep Group took control of the Yukos oil company. For the knockdown price of $350m.
-Mikhail Khodorkovsky, even served as deputy fuel and oil minister during Boris Yeltsin's presidency. (conflict of interest, insider knowledge)

Khodorkovsky and his company initially earned a reputation for dubious business practices, including diluting stakes held by foreign shareholders, notably the American investor Kenneth Dart.
After the 1998 financial crisis Yukos tumbled in value, but Khodorkovsky held on to the firm, dragging minority shareholders into courts to keep control of his empire.
Just two years later however, he was the darling of the Western stock markets.

That should be enough background on the man and his pilfering ways. Him and his partner are no doubt guilty of the crimes they have been charged with.
Dubious business practices indeed.
But, what is most interesting is the action Khodorkovsky undertook when he was arrested in 2003. I couldn't find any mention of this in the latest news reports.
So I will connect the dots for you. From Khodorkovsky to Jacob Rothschild

In 2003, when Khodorkovsky was arrested, he signed over all his shares in Yukos, to one
Jacob Rothschild, of the Rothschild banker and Oil family.

The Rothschilds have financed oil exploration in Russia since the Tsarist period, while Lord Rothschild has close connections with Yukos.

(Lord Rothschild has "close connections" with Yukos? Was Lord Rothschild the money behind the private bank and the Menatep Group mentioned above)
If all the top Yukos managers were unable to carry out the role, Lord Rothschild would take over, the company official told Kommersant on condition of anonymity.

The BBC was not alone in reporting this news. Though it did not enjoy widespread coverage.
The Washington Times covered it, and this was the article I saved so many years ago...

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.

A previously unknown arrangement??


  1. Nice memorising .

    I wonder if all those oligarchs and Berezovsky didn't set the whole post-Sov system up for their own benefit, assumed Putin was in on it and got a shock when he turned round and bit their butts.

    He should have moved to the West where that sort of business is not just legal but govt-backed


  2. hey aferrismoon!

    thanks for the compliment

    "I wonder if all those oligarchs and Berezovsky didn't set the whole post-Sov system up for their own benefit"

    they sure had lots of help from the American bankers who helped restructure Russia (read pillage)

    One, Larry Summers come to mind as an integral part of the restructuring process.

    It may be time to look once again at what Larry Summers and his Rubinomics gang did in Russia in the mid-1990s and to Third World countries during his tenure as World Bank economist to see what kind of future is being planned for the U.S. economy over the next few years. Throughout the Soviet Union the neoliberal model established “equilibrium” in a way that involved demographic collapse: shortening life spans, lower birth rates, alcoholism and drug abuse, psychological depression, suicides, bad health, unemployment and homelessness for the elderly (the neoliberal mode of Social Security reform).

  3. I downladed the frr stuff from [ worth a look].

    It shows a life-expectancy graph. Since the revolutin in'89 life expectancy has dropped from 70 to 67, actually dropping to 64 in 1994.

    In Czech its 77, which is why so many Russians are moving here.

    The Czechs had a post-revolution thief - Viktor Kozeny who , fresh from the States, stepped in and stole as much as he could.


  4. sorry I missed your response yesterday Aferrismoon, who I am going to call A from here on in.

    NOt to be confused with ap, of course.

    I will check that out