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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, Aug. 30


Break out the tweed and channel your inner Englishman during the English Hunt Picnic this afternoon organized by the Bagmut stables from Krasny Bor in the Leningrad Oblast. Equestrian stunts, English archery and classic hunting fashion will all be available to visitors hoping to live like the characters in Downton Abbey if only for a day. Tickets for the event cost 7,900 rubles ($219.40).


Bookworms will have their chance to swap out well-read classics for something new for their bookshelves at Knigovorot, a free book exchange that will be held in the Yusupov Garden on Sadovaya Ulitsa today. Come for the chance to get a new book or take the opportunity to discuss the literary merits of your favorite authors with fellow fans.



Sunday, Aug. 31


The Neva Delta International Blues Festival wraps up this afternoon on Vasilevsky Island with a concert featuring not only some of Russias best blues bands but international stars as well. Admission is free for all three days of the festival, which begins on Aug. 29, and the shows starting at 5 p.m. each day.



Monday, Sept. 1


Today marks the beginning of Lermontov-Fest, a fall festival celebrating the life of one of Russias most remarkable poets who, in a fate eerily similar to Pushkins, was killed in a duel at the age of 26. Organized by the Lermontov Library System, the next several months will see art exhibitions, concerts and public lectures focusing on the Lermontovs short yet prolific career. Check the Lermontov Library Systems website for more details.



Tuesday, Sept. 2


Join expats and practice your Russian during the Russian Clubs weekly meetings every Tuesday night at 7:30 p.m. The club is free to participate in although you need to be a registered member of Couchsurfing.



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