Ex-Yukos Boss Bail Appeal Rejected

15/01/2004| IslamWeb

An appeals court in Moscow has ruled that oil tycoon Mikhail Khodorkovsky, who is being held on fraud and tax evasion charges, should not be released on bail. In a video link from his jail cell the former head of the Yukos company asked the court that he be placed under house arrest rather than detained in prison. An earlier ruling recommended holding him in custody until March 25th. Khodorkovsky's lawyer was little surprised by the decision. He said: "We came to court fully believing in our position but fully aware of the realities we face." The verdict means that Khodorkovsky, who is Russia's richest man will stay in prison until after the presidential election of March 14. Some commentators and opponents of President Vladimir Putin claim his arrest is politically motivated. The billionaire is a supporter of Putin's liberal party rivals. **PHOTO CAPTION*** Mikhail Khodorkovsky, the former head of Yukos oil company, is seen at this image made from television at a court room, appealing to the court in Moscow, Thursday, Jan. 15, 2004. (AP Photo)