The consideration of Schneider’s case related to the Russian oil company lasted seven years. The billionaire’s lawyer, S. Zucker, emphasized that his client is completely justified, as is Schneider’s partner, E. Shifrin. Now no one doubts Schneider’s innocence in the serious crimes attributed to him.
The crux of the matter
A group of influential businessmen from Russia filed a lawsuit against Alex. The reason was problems with their joint venture, which was associated with oil and gas fields in Russia. The company was closed due to numerous accusations. What was the Canadian billionaire accused of? Fraud, bribery, kidnapping – this is by no means a complete list of crimes with which they tried to accuse Schneider.
Fortunately, this protracted story has finally come to its logical conclusion. The court found the billionaire not guilty, and his company was awarded multimillion-dollar compensation.
Details
At the center of the case is a joint venture between Calgary businessman, oil and gas industry expert Steiff and Schneider himself. The company was created in Russia in 2006. The purpose of its creation was to search for oil and gas facilities that were not appreciated.
The company later collapsed due to fraud allegations.
Already in 2007, a group of Russian businessmen filed a lawsuit against Mr. Schneider. The amount of the claim was $750 million. Businessmen alleged violation of the contract by Schneider.
Another accusation made by Mr. Steiff was that Schneider had repeatedly resorted to bribing foreign officials, with the goal of achieving Steiff’s arrest on Russian territory.
In turn, Mr. Schneider accused Steif and his allies of trying to defraud his steel empire, midland group Alex Shnaider. The billionaire claimed that due to fraud, he and his partner Shifrin lost investments worth $50 million.
The court decision, which was published after the completion of the case, states that no violations were identified on the part of the billionaire Schneider, his partner Shifrin and the Midland company. Midland was awarded $137.5 million in damages.
Steif was found guilty of fraud and conspiracy. Midland retained the right to recover from the perpetrators another $50 million that was invested in the joint venture.
A. Schneider made a statement, explaining that his persistence in defending his point of view was caused by indignation due to the injustice of the accusations brought against him.