Moscow court rejects plea to free Yukos' key shareholder

A Moscow court on Tuesday turned down a defense appeal to release Platon Lebedev, a key shareholderof the embattled Russian oil giant Yukos, and a close associate ofjailed former Yukos CEO Mikhail Khodorkovsky, Russian news agencies reported.

Lebedev, CEO of Group Menatop, was arrested last July. His arrest and the following arrest of Khodorkovsky last October were seen by some analysts as the start of the nearly year-long judicial campaign to stifle the financial and political clout of Khodorkovsky, who had reportedly sponsored political opponents against President Vladimir Putin.

But the Kremlin has repeatedly denied any political motive behind the Yukos case, saying it is part of the country's anti-corruption campaign to crack down on economic crimes. Last month, Putin said the government was not interested in seeing the oil giant driven into bankruptcy.

Both Lebedev and Khodorkovsky face seven charges including fraud, embezzlement and tax evasion in connection with the 1994 privatization of a big, state-owned fertilizer plant. They could be sentenced 10 years in prison if convicted.

A 44-percent stake in Yukos owned by Group Menatop has been frozen by prosecutors.

The Moscow's Meschchansky district court resumed combined hearings on the criminal case against Lebedev and Khodorkovsky on Monday.

In Monday's session of hearings, the court rejected an appeal by Lebedev's defense team for hearings to be stayed until their client is examined by an independent medical team. The court also rejected an appeal for him to be freed on bail during the examination.

Sourcve: Xinhua