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Lebedev Accuses GE Subsidiary of Fraud

Published: April 24, 2013 (Issue # 1756)


MOSCOW Alexander Lebedev has accused aGeneral Electric subsidiary offraud andis demanding compensation, thebillionaire businessman told theweekly publication Profile in a recent interview.

From 2006 to2008, General Electric Capital Aviation Services, through its affiliated company PK Airfinance, gave us loans forthe purchase ofthree new andseven five-year-old nearly new Airbus A320 aircraft forthe German airline Blue Wings, inwhich we were shareholders, Lebedev said.

But in2009, theGerman regulator stopped Blue Wings, andPK declared that theplanes were being seized since they were under bond, Lebedev said, though he was certain that theplanes would simply be sold atopen auctions anda difference of75 million dollars would be returned tohis company. PK declared that theplanes were inpoor condition, however, andsaid they required major maintenance work. Themaintenance work oneach plane was estimated at10 million dollars.

After that, afake auction was held, where General Electric Capital Aviation Services bought theplanes for171.5 million dollars, although they actually cost much more. Inthis way, through maintenance work anda strange auction, my money was siphoned out ofmy wallet byGEs daughter company andput intothe wallet ofits niece, Lebedev said.

ALondon court began hearings intothe case last week.





 


ALL ABOUT TOWN

Saturday, Sept. 20


Starting on Sept. 18 and ending tomorrow is the Extreme Fantasy Wakeboarding Festival in Sunpark by Sredny Suzdalskoye lake in the Ozerki region of the city.


Those after something more laid back can instead head to Jazz and Wine night at TerraVino with legendary jazz guitarist Ildar Kazahanov. 12/14 Admiralteyskaya Emb.



Sunday, Sept. 21


Learn more about African culture and get some exercise during todays Djembe and Vuvuzela, a bike ride starting in Palace Square that includes several stops where riders can listen to the music of Africa or watch short films about the continent. The riders plan to set off at 4 p.m. and all you need to join is a set of wheels.



Monday, Sept. 22


Do you love puppetry? If so, then be sure to go to BTK-Fest, a five-day festival that starts on Sept. 19 celebrating the art. Contemporaries from France, Belgium, the U.K. and other countries will join Russian artists to put on theatrical performances involving a variety of themes, materials and eras. Workshops and meetings are also scheduled for a chance to discuss the artistic medium in further depth.



Tuesday, Sept. 23


Marina Suhih, Director of the External Communications Department at Rostelecom North-West, and Yana Donskaya, HR Director for Northern Capital Gateway are just some of the confirmed participants of todays round table discussion on Interaction with Trade Unions being hosted by SPIBA. Confirm your attendance with SPIBA by Sept. 22.


Kino Expo 2014, an international film industry convention, will be at LenExpo from today until Sept. 26. The third largest exhibition of film equipment in the world, the expo focuses on not only Russia but former Soviet republics as well.



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