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Norilsk Pension Fund Seeks FSB Probe of Prokhorov’s Onexim: IFX

Norilsk Nickel’s pension fund asked the Federal Security Service to check if billionaire Mikhail Prokhorov’s company managed the fund’s money properly in 2008-2009, Interfax reported today, citing a letter from the fund’s executive to the FSB.

The fund claims that in 2008 Rosbank Managing Co., then owned by Prokhorov’s Onexim Group, mismanaged 350 million rubles ($11.7 million) of the pension fund’s money by selling illiquid shares of OAO Financial Leasing Co. from its portfolio to the fund, according to the news service.

Prokhorov is running against Russian prime minister Vladimir Putun in presidential elections scheduled on March 4.

Onexim’s press office and the FSB did not respond to telephone calls seeking comment.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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