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Strategies & Market Trends : Investment in Russia and Eastern Europe -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Haegin who wrote (208)	6/9/1998 12:17:00 PM
From: Real Man	Read Replies (1) \| Respond to of 1301

Thomas, Thanks a lot for your news reposts. I guess, these downgrades are viewed quite negatively by the market these days. Payments are guaranteed not by laws but by guns in Russia -sad but true. My major concern remains political stability. Recent polls show Ziuganov followed by Lebed - not a pleasant duo - as likely presidential successors. I read also some articles about fascism spreading in Russia. Sanity is the most likely option, but risks are great. -Vi

To: Thomas Haegin who wrote (208)	6/10/1998 4:26:00 AM
From: Thomas Haegin	Read Replies (2) \| Respond to of 1301

Repost: Russian officials arrested in crackdown United Press International - June 09, 1998 16:50 ÿÿ MOSCOW, June 9 (UPI) - Several Russian government officials, including the head of the state statistics service, have been arrested on charges of assisting tax evasion schemes and selling confidential company information stored in state data banks to competing businesses. ÿÿ Officials who conducted the raid Monday night say they found over $1 million in cash at the home of Yuri Yurkov (''YOU-ree yoor-KAWF''), the head of Goskomstat, the statistics service. ÿÿ Investigators say they found jewels and $500,000 in cash at the homes of several other men arrested in a widening crackdown on corrupt officials. ÿÿ Russian authorities claim the group of arrested officials, believed to number as many as 20, are part of a large tax-evading scheme that has been operating for several years. ÿÿ The officials knowingly distorted state statistics, lowering the trading figures of certain trading companies to allow them to evade taxes. ÿÿ The fraud is estimated to have cost Russia millions of dollars in lost tax revenue. ÿÿ The Russian government, which is suffering from a severe cash crunch, has begun cracking down on tax dodgers. The state tax service has drawn up a list of 1,000 of the richest citizens, who will be monitored by a special branch with the aim of boosting tax collection and making an example to the rest of the nation. ÿÿ Only 4 million Russians filled tax forms this year out of a population of almost 150 million. Government officials are warning it will go as far as show trials of tax cheats to prove the clampdown is a serious, long-term effort rather than a monthlong campaign to cover a budget shortfall. ----------- ÿÿ Copyright 1998 by United Press International. ÿÿ All rights reserved. ----------- ÿÿ -eom-