Michael Cherney - Misplaced Pages

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Michael Cherney (Template:Lang-he, also Mikhail Chernoy or Mikhail Chorny; born January 16, 1952) is a Uzbekistan-born Israeli entrepreneur and industrialist. He is known for his business ventures and for founding the Michael Cherney Foundation. Michael Cherney is wanted by Interpol for "money laundering" and "organized crime"

A photograph from the Interpol official website

Biography

Cherney grew up in Tashkent Uzbek SSR in a family whose father was a book-keeper and an engineer, the oldest of three sons. At the age of fourteen, Cherney started working, as he joined his father on moonlighting jobs. After high school, he was drafted into the Soviet Army and attended a technical college. Later, his athletic pursuits – boxing and football – led to employment in sports administration.

Michael Cherney immigrated to Israel in 1994.

Business interests

BulgarTabac

In 2002, 80% of the capital in the Bulgarian State-owned tobacco company, Bulgartabac, was placed on the market. Cherney put together a three-partner consortium to bid for Bulgartabac. He planned to purchase Bulgartabac by establishing the Metatabac Consortium, which was created in April 2002. Ownership was structured between three groups: the Russian firm Soyuzcontracttabac, which owned 35%, MCG Holdings, a firm owned by Cherney, which owned 35%, and another 30% held by a Cypriot company named Metacontact Ltd.

Criminal investigations

Cherney has been accused of numerous criminal actions, including corruption, money laundering and organized crime.

Bez affair

In 2001 Cherney was accused of concealing an attempt to purchase the Israeli state-owned telecom company Bezeq, a charge he denies. In this affair, Cherney allegedly arranged to have Israeli businessman Gad Zeevi purchase 20% of the Israeli telecom using money provided by Cherney.

Mobiltel deal

Cherney was also involved in the supposably corrupt selling-on of the Bulgarian mobile provider Mobiltel. In 2002 Cherney bought the company together with Austrian business men Martin Schlaff (under corruption charges), former minster of the Austrian People's Party Josef Taus, and financial expert Herbert Cordt. The 768 millionen Euro deal was financed by BAWAG_P.S.K., a bank known for its criminal role in connection with the Refco Scandal. 2005 Mobiltel was sold for 1,6 billion Euros to Mobilkom Austria Group with a huge profit of 830 millionen Euros.

Wanted for money laundering and organized crime

Spain's Supreme Court (JUZGADO CENTRAL DE INSTRUCCION N. 4 DE LA AUDIENCIA NACIONA) in May 2009 issued a detention order against Michael Cherney. He is suspected for laundering money obtained from the activity of the Ismailova crime organization. The Spanish authorities claim they succeeded in tracing the organization's complicated money laundering track, including Cherney's alleged participation. Cherney’s name has been put on the list of fugitives wanted by Interpol. Categories of offences include money laundering, organized crime / transnational crime, the Interpol official website says.

Lawsuit against Oleg Deripaska

On November 24, 2006, Cherney filed a suit against Oleg Deripaska, a Russian billionaire who owns the huge Russian aluminum company, RusAl, in the Commercial Court of London's High Court. Cherney sought a Court declaration affirming that Deripaska holds 20% of the RusAl shares on behalf of Cherney or damages for breach of Deripaska's agreement to dispose of the shares and to account to Cherney for the proceeds. The claims are based on a written agreement between the two businessmen that was signed in London in March 2001. As of December 2006 RusAl was in the final stages of negotiating a takeover of domestic rival SuAl and the aluminum assets of Glencore, a major Swiss commodities trader, which could create a new company valued at up to $30 billion. According to this estimate, Cherney's 20 percent stake in RusAl could be worth as much as $3 billion. On July 3, 2008, a British judge ruled that Cherney had the right to sue Deripaska for $4 billion (₤2 billion). The High Court's Mr Justice Christopher Clarke ruled that Cherney might be assassinated or held on trumped-up charges if he tried to bring the case in Russia.

Personal life

Cherney established the Michael Cherney Foundation, which addresses concerns of Israel's security and international terrorism.

He published a book on the victims of the Dolphinarium terror attack in Tel Aviv. The book was published and presented on May 30, 2002. The Russian-language edition was to be presented in Moscow on June 6. The speakers at the presentation in Tel Aviv included Ms Dalia Rabin Filosof, Israel's Deputy Defense Ministry; Dov Wiseglass from the Israel's Prime Minister's office; Knesset members and leaders of Russian communities throughout the Diaspora.

Cherney is a major shareholder in Bulgarian football club PFC Levski Sofia.

Cherney and his family live in a suburb of Tel Aviv.

References

External links

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