Court Issues Arrest Warrant for Former Russian Phone Retailer

­A UK court has reportedly issued an arrest warrant for Russian fugitive, Yevgeny Chichvarkin, who fled the country following allegations of kidnap and extortion at his former mobile phone retailer, Evroset (Euroset).

The warrant, issued by a Westminster court on Aug. 27, isn't itself an approval of extradition, an official at the Prosecutor General's Office in Moscow told Bloomberg News by telephone, declining to be identified because of state policy.

Last September, police arrested four employees of the phone company, accusing them of kidnapping an employee, Andrei Vlaskin - who they suspected of stealing from the firm - and phone smuggling in a case which dated back to 2003. Chichvarkin was grilled by the General Prosecutor's Office Investigations Committee for over four hours following the arrest of the employees.

Chichvarkin has always refuted the claims.

Shortly after the employees were arrested, the two co-founders sold the phone retailer to fellow Oligarch, Alexander Mamut for US$400 million in cash (and US$850 million in debt). However the transaction was thought to be a holding action, as Mamut then sold half of the firm to mobile operator, VimpelCom within just a few weeks.

In March this year, Russian prosecutors sent a notice to Interpol seeking his arrest and extradition back to Russia.

Despite the claims against him, Chichvarkin is noted for making public statements condemning corruption and bribery in Russian officials - raising concerns in some quarters that the charges are a witch-hunt against a person who is causing problems for the government and its supporters.

Currently Euroset operates approximately 5,100 outlets in Russia, Ukraine, Belarus, Moldova, Kazakhstan, Kyrghyzstan, Uzbekistan and Armenia. In 2007 the company's revenues reached $3.14 billion.

On the news: Bloomberg News

Posted to the site on 6th September 2009