Khodorkovsky & Lebedev Communications Center

Bio:

Mr. Zakharov worked at MFO Menatep from 1993 to 1995, and then went to work at SP RTT. He worked at SP RTT until 1998 and, after SP RTT was reorganized into Makarios and Company, worked at Makarios. Then, sometime in 2006, he transferred to OOO Lion XXI, a company within Makarios Group.

Testimony dates:

October 26, 2009

Testimony Summary:

Mr. Zakharov testified that, in addition to holding various management positions at RTT and Makarios, he was involved in providing administrative services to a number of clients and client companies, including serving as a managing director and authorized representative. Mr. Zakharov explained that he and other employees administered a number of companies that borrowed funds from Bank MENATEP to buy assets and the decisions he made while administering these companies were made with a view towards representing the bank's interests. Mr. Zakharov testified that as a managing director he did not have the full freedom to do as he pleased with the shares owned by these companies because the shares were held for the benefit of Bank MENATEP. Mr. Zakharov saw the preservation of these shares as one of his main responsibilities as a managing director of these companies. Further, Mr. Zakharov testified that he could not dispose of shares that were pledged as collateral for a loan guarantee and shares owned by various companies administered by Mr. Zakharov were pledged as collateral.

Mr. Zakharov, as Messrs. Khvostikov and Koval did before him, testified that he served on VNK's Board of Directors. Mr. Zakharov testified that at one of the meetings one of the items on the agenda was an approval of an exchange of Tomskneft shares for YUKOS shares. Mr. Zakharov testified that the board heard a presentation on the reason for the exchange, which he understood to be to protect Tomskneft from a corporate raider takeover by Birkenholz. Mr. Zakharov told the court that Mr. Gololobov's explanation about the need to protect the shares from Birkenholz was convincing, particularly since the exchange envisioned the shares being returned at a later date - unlike if Birkenholz got their hands on the shares. The approval was secured by a majority vote of board members.

Mr. Zakharov told the court that he attended a number of meetings where Mr. Lebedev was present, as part of a working group on Bank MENATEP's liquidation, particularly because some of the companies administered by Makarios had outstanding indebtedness to Bank Menatep. Mr. Zakharov testified that Mr. Lebedev called these meetings to monitor the progress and that questions concerning the bank could not be resolved without Mr. Lebedev's input. [The prosecution's questions about Bank MENATEP and its bankruptcy were irrelevant to the charges. -Eds.]

The prosecution read into evidence transcripts of Mr. Zakharov's interrogations. Mr. Zakharov's transcript testimony was consistent with his in court testimony. Most of the transcript testimony did not have any connection with the charges, for example, explanations of the proposed YUKOS/Sibneft merger and the history of YUKOS' privatization.

Mr. Zakharov's testimony was consistent with that of Messrs. Khvostikov and Koval. He testified that no one ever complained to him about his actions as an authorized representative or a managing director of a company. Mr. Zakharov did not know of any court proceedings where anyone contested any of the documents he signed.

Mr. Zakharov did not have any knowledge about the charges of crude oil embezzlement. Further, Mr. Zakharov testified that Mr. Gololobov made a lot of sense when he explained about the Birkenholz law suit. Also, because the shares were to be returned within 500 days and VNK would get them back, Mr. Gololobov's explanation did not elicit any suspicions.