Roman Abramovich Sued By Former Mentor For $5 Billion

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Roman Abramovich Sued By Former Mentor For $5 Billion

by Lexi Holzberg Kritzer

Source: top-people.starmedia.com

It’s a war of the Russian oligarchs. Roman Abramovich is facing a $5 billion lawsuit, and worst of all, the lawsuit is being brought by his former mentor, Boris Berezovsky.

Berezovsky, a former oligarch who now lives in London, claims that Abramovich intimidated him into selling his large stake in the company at far less than it was worth. Berezovsky was a major force in Russia, but he fled, and lost a chunk of his wealth when he clashed with the government.

Berezovsky’s lawyer alleges that Abramovich had the choice ”to remain loyal to Mr. Berezovsky, his friend and mentor and the person to whom he owed his newly acquired great fortune, or instead, as we submit, to betray Mr. Berezovsky and to seek to profit from his difficulties,” according to The Wall Street Journal. They claim he chose the latter.

For that, Berezovsky’s seeking a $5 billion claim. On top of that, he’s also made another $565 million claim, saying Abramovich sold off his shares in a company without his permission.

Source: Mogulite

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Oct 24, 2011 10:07 AM

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