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?
- 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??