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Khodorkovsky Found Guilty of Embezzlement in Russian Court

Former Yukos CEO Mikhail Khodorkovsky, left, and his co-defendant Platon Lebedev, right, stand behind a glass wall at a court in Moscow, Russia, (File)

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Last updated on: December 26, 2010 7:00 PM

Russian news reports say a court ruled Monday that Mikhail Khodorkovsky and his business partner are guilty of embezzling property.

The verdict means the two have been found guilty of stealing oil from Khodorkovsky's now-defunct company Yukos.

The judge has yet to announce a sentence.

Former chief executive of Yukos, Khodorkovsky - once Russia's richest man - and his partner, Platon Lebedev, are accused of embezzling 350 million tons of oil and laundering about $25 billion in proceeds.

Both defendants deny the charges, saying they were framed for opposing Kremlin policies.

Khodorkovsky is currently nearing the end of an 8-year sentence for fraud and tax evasion.

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