Sunday, November 23, 2014
 
Follow sptimesonline on Facebook Follow sptimesonline on Twitter Follow sptimesonline on RSS Download APP
MOST READ



PARTNER NEWS



BLOGS



OPINION



WHERE TO GO?

19th Century Portraits

History of St. Petersburg Museum: Rumyantsev Mansion

 

  Print this article Print this article

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

Sunday, Nov. 23


Get in the holiday spirit at todays Winter Bazzar at the Astoria Hotel. Featuring gifts from around the world such as French eclairs, Dutch cheeses and Indian jewelry, the annual event organized by the International Womens Club will feature 18 international stands and raise money for charity through the sales of a diversity of products that further illustrate the citys international connections.



Monday, Nov. 24


Dr. Axel Schulte, Department Head at Fraunhofer Institute for Material Flow and Logistics in Dortmund, Germany, is the featured speaker at the SPIBA Industrial Committee lecture on The Fourth Industrial Revolution: Digitalization of the Supply Chain. The event begins at 4 p.m. at the Graduate School of Management at 3 Volkohvsky Pereulok and registration is required by Nov. 21 either by emailing office@spiba.ru or calling 325 9091.



Tuesday, Nov. 25


Tag along with AmCham during their Industrial St. Petersburg Tour program today. This incarnation of the ongoing series will visit Philip Morris Izhora and include an Environmental Health and Safety Committee meeting.


Find out how to expand your business east during the Business With China forum beginning today and concluding tomorrow at the Lenexpo convention center. The largest Russian forum dedicated to business with the Asian giant, topics that will be discussed include logistics, customs clearance, trade financing and many more.



Times Talk