Accountancy Age, Accountancy Age, Tuesday 7 September 2010 at 09:19:00

Oligarchs continue fight to beat charges


PwC is set to move to the centre of a Moscow court hearing when the formerowners of the oil group Yukos defend themselves against embezzlement charges.

The Financial Times reports this morning that lawyers for PlatonLebedev will claim that the audit firm came under pressure to withdraw auditscovering Yukos operations from 1996 to 2006.

Lebedev along with Mikhail Khodorkovsky was charged with embezzling 350tonnes of oil from Yukos between 1998 and 2003. They were jailed in 2005.

In 2007 PwC was cleared of any wrongdoing in connection with the audits. Thisfollowed a raid on their offices. Russian authorities also made an attempt toembroil the firm in tax evasion charges in connection with Yukos. But thisaction has also been dropped.

Read more:

PwCwins Yukos appeal

PwCRussian future in the balance

PwCstill in love with Russia