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Marks & Sokolov Assists Client in Alleging LUKoil Involvement in Cash Smuggling

Scheme
The Philadelphia Law Firm is Assisting Archangel Diamond Corporation To File Cla
ims Against the Russian Oil Company. Racketeering and Fraud are Just Two of the
Charges.
Denver, CO, March 19, 2010 -- Recently emerging from bankruptcy proceedings, Arc
hangel Diamond Corporation (ADC) has launched new claims in Colorado federal cou
rt against Russian oil company LUKoil.
Led by international litigator Bruce Marks, ADC filed amended claims against LUK
oil alleging a series of wrongdoings. Claims include allegations of racketeering
, fraud, unjust enrichment, and civil conspiracy. Archangel Diamond Corporation
has pursued these claims in an effort to buttress its case that the Colorado cou
rt has jurisdiction over LUKoil to try a related 11-year old diamond mine case.
Intimately familiar with Russian business by maintaining a Russian law office in
Moscow, Marks & Sokolov has worked with ADC to allege that LUKoil used Colorado
, local companies, and at least a dozen de facto Colorado employees to smuggle l
arge sums of cash into Russia. The court filing alleges that from March 1999 unt
il now LUKoil has used a Colorado front company as "the fulcrum of illegal cash
smuggling schemes in which the LUKoil Colorado employees carried cash from Color
ado to Russia, in amounts averaging $40,000 per month, totaling over $6 million.
â
Marks and Sokolov states that the new court filing alleges LUKoil engaged in thi
s wrongdoing as part of the alleged scheme to take the mining license for the Gr
ib diamond pipe in Arkhangelsk away from ADC, and vest it in another company Ark
hangelskgeoldobycha (AGD).
As a US-Russian law firm focused on business between the two counties, Marks and
Sokolov sees that the new evidence strengthening the case against LUKoil may be
an effective strategy in obtaining compensation for the lost diamond mining rig
hts from the Russians. The award could reach into the billions of dollars. A par
allel legal proceeding in Stockholm, before the Stockholm international arbitrat
ion tribunal, was wound up in October, 2009.
About Marks & Sokolov:
Marks & Sokolov is an international law firm with offices in Philadelphia, Penns
ylvania, Moscow, Russia, and Kyiv, Ukraine. Under the direction of Bruce Marks,
the Managing Director, the firm provides a full range of international litigatio
n and arbitration services to Russian and Ukrainian businesses and individuals i
n the United States and international clients throughout the world. Marks, Sokol
ov & Burd is known for its extensive experience in handling transactions for Wes
tern clients doing business in Russia and Ukraine and Russian/Ukrainian clients
doing business internationally.
Contact:
Maria Grechishkina
Marks & Sokolov
1835 Market Street, 28th Floor
Philadelphia, PA 19103
215-569-8901
info@mslegal.com
http://www.marks-sokolov.com