Yukos associated ex-executives sentenced to prison for embezzling $US 13 BLN

Two former executives associated with the Russian bankrupt oil company Yukos have been sentenced to 11 and 12 years in prison for embezzling $US 13 BLN. They were found guilty of money laundering.

A Moscow court said Vladimir Malakhovsky and Vladimir Pereverzin had bought oil from Yukos subsidiaries at artificially low prices and then resold.

A third defendant, Antonio Valdes Garcia, is on the run after escaping from his guards. The case is one of several legal proceedings against Yukos and its owners and employees.

The company’s former Chief, Mikhail Khodorkovsky, is currently serving 8 years in a Siberian prison for fraud and tax evasion.