Moscow Court Sentences Two Former Yukos Managers

Pereverzin being led into court on March 1 (ITAR-TASS) March 5, 2007 -- A court in Moscow has sentenced two former managers at the bankrupt oil company Yukos to long prison terms for embezzlement and money laundering.

The court sentenced Vladimir Malakhovsky, the former head of the Yukos-controlled company Ratibor, to 12 years in prison.

Vladimir Pereverzin, the former deputy director of Yukos's foreign-debt department, received an 11-year sentence.

Prosecutors accused the two of buying oil at artificially reduced prices from three Yukos subsidiaries before selling it at higher prices.

(AFP, Interfax)