US sues Ukrainian billionaire for bribery linked to move $500 M Indian project

Ukrainian businessman Dmitry Firtash has been formally charged by the US government today on bribery charges linked to a mining project, Bloomberg. The 48 year-old, who has amassed his fortune in the gas trade in Russia, was allegedly involved in a conspiracy with five others and have met with officials of the Indian government in an effort to facilitate the project, as its goal was to generate titanium products sales from firms including an Illinois-based company. Firtash, of whom the Us government identified as the leader of the group. paid $18.5 million in bribes.

On the other hand, the prosecution of Firtash might have been one way for the US government to impose more harsher sanctions against Russian President Vladimir Putin's inner circle over the annexation of Crimea, former analyst Mikhail Korchemkin for the Soviet Union's Gas Ministry. Korchemkin, who is currently founder of the East European Gas Analysis based in Malvern, Pennsylvania, said that Firtash might have information about the deals involving OAO Gazprom, the Russian state gas exporter the US said that its deals could have been corrupt.

The businessman is currently fighting extradition from Austria. The US has already said that the lawsuit against Firtash is not connected with the Ukraine crisis.

Robert Shetler-Jones, who is Firtash's deputy as chairman of international conglomerate Group DF, denied the accusations on behalf of his boss. He said that the move by the US was clearly political. He added in an emailed statement, "It is not a coincidence that the U.S. is trying to extradite our chairman at the moment when Mr. Firtash is needed for the economic and political reconstruction of Ukraine."

Bloomberg said Firtash and the other uS defendants are each charged with interstate travel in aid of racketeering and racketeering and money laundering conspiracy. Firtash and four of the US defendants had been charged additionally with scheming to violate the Foreign Corrupt Practices Act, which is a federal anti-bribery statute, the news agency said. Chicago US Attorney Zachary Fardon said yesterday that the defendants could be facing more charges, which include using threats and intimidation to advance the interests of their enterprise.

Tags

Dmitry Firtash, US government, Russian President Vladimir Putin, Crimea annexation

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