Bank Menatep was a $29-billion holding company created by Mikhail Khodorkovsky, that had indirect controlling interest in Yukos Oil Company, and was involved in the $4.8 billions diversion of International Monetary Fund (IMF) funds. The bank's financial condition was seriously damaged during the 1998 financial crisis due to risky investments. The Russian Central Bank revoked Menatep's licence in May 1999. However, according to Ernest Backes, former #3 of Clearstream, a clearing-house which has been qualified as a "bank of banks", Menatep maintained an unpublished secret account at Clearstream until at least 2000. The bankruptcy was finalized by February 2001. In the time between August 1998 and May 1999 the bank's assets were siphoned off by the owners and management defrauding the creditors. Over 15 thousand people lost their saving. A new Bank Menatep Saint Petersburg was created from a Saint Petersburg division of Bank Menatep. It accumulated the assets but not the liabilities of the original bank. Khodorkovsky speaking at a conference shortly before his arrest. ... Yukos Oil Company (ОАО НК ЮКОС) is a petroleum company in Russia which, until recently, was controlled by Russian billionaire Mikhail Khodorkovsky and a number of prominent Russian businessmen. ... The logo of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ... With the collapse of the Soviet Union in December 1991, the Russian Federation became an independent country. ... Bank of Russia (Russian:Банк России) or The Central Bank of the Russian Federation (Russian: Центральный банк Российской Федерации) is a Central bank of Russia. ... Ernest Backes was #3 of compensation chamber Clearstream (formerly Cedel) and was fired in May 1983. ... Clearstream Banking (CB) is a Bank and a transaction clearing company based in Luxembourg (Europe) created in January 2000. ... In banking and finance, clearing denotes all activities from the time a transaction is made until it is finally settled (see settlement). ... Saint Petersburg (Russian: Санкт-Петербу́рг, English transliteration: Sankt-Peterburg), colloquially known as Питер (transliterated Piter), formerly known as Leningrad (Ленингра́д, 1924–1991) and Petrograd (Петрогра́д, 1914–1924), is a city located in Northwestern Russia on the delta of the river Neva at the east end of the Gulf of Finland...

The Kremlingate

Mikhail Khodorkovsky, now in prison, has been accused of money-laundering, among other things. Menatep was implicated in the diversion of $4,8 billion in IMF funds lent to Russia in 1998: this gave rise to the Kremlingate. Funds have transited through Clearstream clearing-house, which has been qualified as a "bank of banks" and was involved in a major scandal in Luxembourg. Khodorkovsky speaking at a conference shortly before his arrest. ... The flag of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring foreign exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ... 1998 (MCMXCVIII) is a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... Bank Menatep was a $29-billion holding company created by Mikhail Khodorkovsky, that had indirect controlling interest in Yukos Oil Company, and was involved in the $4. ... Clearstream Banking (CB) is a Bank and a transaction clearing company based in Luxembourg (Europe) created in January 2000. ...

Menatep Bank has also been accused by french journalist Denis Robert of having opened a non-published Cedel (which became Clearstream) account on May 15, 1997, after Clearstream CEO André Lussi visited Khodorkovsky in Moscow. "Menatep further violated the rules because many transfers were of cash, not for settlement of securities", writes Lucy Komisar. "For the three months in 1997 for which I hold microfiches, Ernest Backes says, only cash transfers were transferred through the Meanatep account. They were a lot of transfers between Menatep and the Bank of New York." Natasha Gurfinkel Kagalovsky, a former Bank of New York official and the wife of Menatep vice president, was accused of helping launder at least $7 billions from Russia, according to Komisar. US investigators have attempted to find aout if some of the laundered money originated with Menatep. Furthermore, even though Menatep officially failed in 1998, it oddly remained on Clearstream accounts for 2000, as did the Bank of Credit and Commerce International (BBCI), involved in another major scandal. In reaction to those accusations, Menatep filed a complaint against Denis Robert [1]. [2]. Denis Robert is a French journalist, author of Revelation$ with Ernest Backes, former #3 of Clearstream. ... Clearstream Banking (CB) is a Bank and a transaction clearing company based in Luxembourg (Europe) created in January 2000. ... Clearstream Banking (CB) is a Bank and a transaction clearing company based in Luxembourg (Europe) created in January 2000. ... Chief executive officer of Clearstream, André Lussi resigned in December 2001 following the scandal brought up by the publication of Denis Robert and Ernest Backes book, Revelation$, which described a double system of accounts, one of whom was non-published. ... Moscow (Russian: Москва́, Moskva, IPA: â–¶ (help· info)) is the capital of Russia, located on the river Moskva. ... A reference to colonization, or the resulting communities. ... Security is a type of transferable interest representing financial value. ... Lucy Komisar is an investigative journalist. ... Ernest Backes was #3 of compensation chamber Clearstream (formerly Cedel) and was fired in May 1983. ... The Bank of New York NYSE: BK The Bank of New York is a global Financial services company operating in five primary business areas: Securities Servicing and Global Payment Services Private Client Services and Asset Management Corporate Banking Global Market Services Retail Banking (in the states of New York, New... 1998 (MCMXCVIII) is a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... This article is about the year 2000. ... BCCI in London was closed by the Bank of England in 1991 after evidence emerged of fraud and money laundering. ...

On 3 March 2004, Stephen Curtis, managing director of Group Menatep (created in 1997) since November 2003 (shortly after Khodorkovsky was arrested), and his pilot Matthew Radford died in a helicopter crash, near Bournemouth International Airport, in the south of England. The crash was accidental, has concluded the british jury on November 2005, rejecting any conspiracy theory. It had been told that the aircraft had been sabotaged.[3] Stephen Curtis, a lawyer, had played a key role in creating Menatep's network of offshore structure in the 1990's, according to the Moscow Times[4]. 2004 : January - February - March - April - May - June - July - August - September - October - November - December Deaths • 08 Abu Abbas • 20 Queen Juliana • 28 Peter Ustinov • 30 Alistair Cooke More March 2004 deaths Ongoing events EU Enlargement Exploration of Mars: Rovers Haiti Rebellion Israeli-Palestinian conflict Occupation of Iraq Same-sex marriage in... Managing director is the term used for the chief executive of many limited companies in the United Kingdom and some other English speaking countries. ... 2003 : January - February - March - April - May - June - July - August - September - October - November - December A timeline of events in the news for November, 2003. ... Bournemouth is a seaside resort on the south coast of England. ... Royal motto (French): Dieu et mon droit (Translated: God and my right) Englands location within the British Isles Official language English de facto Capital London de facto Largest city London Area – Total Ranked 1st UK 130,395 km² Population – Total (mid-2004) – Total (2001 Census) – Density Ranked 1st UK... Ongoing events • Abramoff-Reed gambling scandal • Al Jazeera bombing memo • Avian influenza (H5N1) outbreak • Black sites scandal • Conservative leadership race (UK) • Fuel prices • Irans nuclear program • Jilin chemical plant explosions • Kashmir earthquake • Malawi food crisis • Malaysian prisoner abuse scandal • New Delhi bombings investigation • Niger food crisis • North Indian cyclone... This proposed logo for a U.S. government agency was dropped due to fears that its pseudo-Masonic symbolism would provoke conspiracy theories. ... Offshore may refer to oil and natural gas production at sea, see oil platform. ... Moscow Times is an independent English language Russian daily newspaper. ...

See also

• Clearstream scandal
• Platon Lebedev
• YUKOS

Clearstream Banking (CB) is a Bank and a transaction clearing company based in Luxembourg (Europe) created in January 2000. ... Platon Lebedev (born 26 June 1963) is a Russian businessman and close associate of Mikhail Khodorkovsky. ... Yukos Oil Company (ОАО НК ЮКОС) is a petroleum company in Russia which, until recently, was controlled by Russian billionaire Mikhail Khodorkovsky and a number of prominent Russian businessmen. ...

External link

• Group MENATEP
• Newly created Bank Menatep Saint Petersburg
• [5] Lucy Komisar on "Revelation$" by Denis Robert and Ernest Backes, former #3 of Clearstream.