Head of Lukoil Romania Refinery Charged with Tax Evasion, Money Laundering

World » SOUTHEAST EUROPE | November 28, 2014, Friday // 14:25
Bulgaria: Head of Lukoil Romania Refinery Charged with Tax Evasion, Money Laundering Photo by EPA/BGNES

Andrey Bogdanov, Petrotel Lukoil's chief executive, has been charged with tax evasion and money laundering worth an estimated EUR 230 M.

Bogdanov, CEO of the Romanian-based refinery, is currently under a recognizance order and cannot leave the country, Russian business website RBC Daily reports.

In October, authorities moved to close down the Petrotel Lukoil's refinery in Ploesti after the probe was launched, but work at the facility was renewed in a few days' time.

The investigation is expected to go on for at least half a year.

Petrotel Lukoil's subsidiaries LUKOIL Lubricants East Europe S.R.L and LUKOIL Energy&Gas Romania S.R.L. are also under investigation.

Lukoil Europe Holdings, which is part of Lukoil Group, holds a 97.1% stake in the Ploiesti-based oil refinery. Lukoil also owns 300 filling stations in Romania.

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Tags: Andrey Bogdanov, Petrotel, Lukoil, Ploesti, Romania
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