Russian Billionaire Puts Under House Arrest Pending Investigation

TEMPO.CO, Jakarta - Russian authorities have placed a top billionaire Vladimir Yevtushenkov, under house arrest pending the results of an investigation of charges on money-laundering.

The Investigative Committee said that Yevtushenkov's company, Sistema holding, was suspected of involvement in a money-laundering scheme involving oil assets in the province of Bashkiria.

Yevtushenkov, 65 years old, is Russia's 15th-richest man with a personal wealth of US$9 billion, according to Forbes magazine.

Russia's federal Investigative Committee said on Tuesday that it launched the probe because it had "sufficient grounds to believe that the Sistema board chairman Vladimir Yevtushenkov is involved in money laundering."

However, the verdict by the Russian agency was contested by business owners and economic advisors. They felt that the verdict was a politically motivated attack, the same which happened to former oil tycoon, Mikhail Khodorkovsky, who spent 10 years in prison.

The Investigative Committee reports directly to Russian President Vladimir Putin. Rosneft - the Putin-favoured oil giant is keen to get its hands on Bashneft, according to a report early this year by the business daily Vedomosti. However the claim was denied by Putin’s spokesperson.

AL JAZEERA | CHOIRUL