May 18th, 2010

South park

Fighting for minority shareholders and against corruption in Russia HELP WANTED!

I have a big request for those who somehow may communicate this message to any European or American mass media, if you could spend ten minutes of your time reading this and maybe sharing it at some other Internet resource or other media resource myself and lots of Russian citezens would be very much obliged.

So here's the story goes... There's this guy Alexey Navalny who litteraly fights for minor shareholders against corrupted authorities. He's an attorney and a very brave one I should say. His most known case is the case of VTB24 bank drilling rigs fraud.

In July 2007 “VTB-Leasing”, a subsidiary of OAO “Bank VTB”, bought rigs made in China for subsequent leasing. Rigs were not bought directly from Chinese producer; instead they were bought from Cypriot intermediary at a higher price. As the result of that direct loss of bank exceeded $160m, and can amount up to $650m.

Here's the link to the video about this fraud: http://www.youtube.com/watch?v=xMYLnETH_mk

In Russia a lot of attempts to initiate audits, court charges etc were prevented by large amounts of money paid to different authorities, which were doing anything to close the issue and stop any prosecution, bot now it looks like there is a way to change the situation as this VTB24 bank also operates in Europe and there's this manager Mattias Warnig who is a charman of bank's Audit committee and he's actually holds the case back.

And now Mr. Navalny issued an official letter to Mr. Warnig asking him to address the issue which was already highlited in Russian media (well Internet mainly, because obviosly this issue is not allowed on TV and press). If Mr. Warnig, who is BTW a former German intellegence member and presently a friend of Mr. Putin will not address the issue properly than according to certain European regulations and obligations he will be liable for failure to act.

So the request I mentioned in the first line of this post is pretty simple and obvious: if anyhow you can distribute English or German press releases than again myself and lots of Russian citezens would be greatly obliged. There's a short explanation and text of letter to Mr.Warnig in those releases together with Navalny and Warnig biographies.

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