Posts Tagged ‘money laundering’

Mikhail Khodorkovsky, Former Russian oligarch gets 14-year sentence

Friday, December 31st, 2010
Former tycoon Mikhail Khodorkovsky, who challenged the rule of Russian leader Vladimir Putin was sentenced to remain in prison until at least 2017.  He was convicted this week on embezzlement and money-laundering charges.

Judge Viktor Danilkin sentenced Mikhail Khodorkovsky to 14 years in prison to be served concurrently with a previous eight-year term that he was soon to complete, in a politically charged case widely condemned in the West.

The judge implied that the new term would keep him behind bars until 2020, but his defense team said the term would be calculated to start with his arrest in 2003.

Platon Lebedev, Khodorkovsky’s business partner,  also received a 14-year sentence and responded by smiling from inside a bulletproof-glass enclosure.  His elderly mother, Marina, was unable to contain herself and shouted to the judge, “You be damned, and your ancestors too.”

The business partner’s were convicted of embezzling the equivalent of $27 billion worth of oil from the now-defunct Yukos Oil Co. The court found that they had “created an illusion of a market mechanism to set oil purchase prices to hide the illegal documentation of the unfair deals and eventually to steal the oil.”

Mikhail Khodorkovsky case

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Largest-ever Medicare fraud racket allegedly headed by Armen Kazarian

Thursday, October 14th, 2010

Armen Kazarian is the alleged (godfather) said to be responsible for the largest-ever Medicare fraud racket in a coast to coast operation where more than $160 million in fake Medicare invoices were generated from an estimated 118 medical clinics in 25 states.  Kazarian 46, was apprehended after being recorded by federal authorities making threats against those Medicare patients who failed to pay his racket’s fake medical bills.

Dozens of people were arrested in connection with the fraud carried out by an Armenian-American organized crime group.

The vast majority of the fictional clinics were rented Mail Boxesand using used stolen patient and doctor IDs to make the fraudulent claims.  $35 million was actually paid out by Medicare before the scam was uncovered.  The group was based in New York City and Los Angeles, though the fraud clams were initiated nationwide.

Many 65 and older Americans depend upon Medicare for their health insurance coverage.

Charges have been filed in California, Georgia, New Mexico and Ohio against a total of 73 defendants, writes the New York Post.  Noted among the defendants is Robert Terdjanian, 35, of Brooklyn.  He was allegedly the East Coast ringleader of Armen Kazarian’s gang, and charges against him include threatening to disembowel one of his extortion victims.

Davit Mirzoyan of Los Angeles is alleged to have been in control of other illegal operations for which the Kazarian group is being charged, including sale of illegal narcotics, untaxed cigarettes and Viagra.  Also in the realm of insurance, Aron Chervin is accused of recruiting strippers to file bogus automotive insurance claims. Various suspects are accused of money laundering via the purchase of Las Vegas casino chips.

Attorneys for the accused have indicated that their Armenian clients plan to plead not guilty on all charges.

What you need to know about Medicare!

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