Reiman to launch defence against tribunal’s ‘laundering’ allegations

25 May 2006

Russian Telecommunications Minister Leonid Reiman ‘has never been the beneficiary of IPOC International Growth Fund or of companies affiliated with the fund,’ according to a statement by Reiman, and reported by business daily Vedomosti. Reiman refused to comment in detail on the Swiss court ruling earlier this week that identified him as the beneficiary owner of the IPOC fund – 8% stakeholder in Russian cellco MegaFon – and connected him with money laundering schemes. ‘I have asked my lawyers to obtain the court’s ruling and analyse it. My eventual actions to defend my reputation will depend on their conclusions,’ Reiman said. He added that the Zurich International Court of Arbitration had not asked him to give any evidence in the IPOC case. Reiman has been chairman of Russian state-run telecoms holding company Svyazinvest since 2000.

Russia, MegaFon