Russian tycoon trial is postponed

Lebedev has been refused bail for nine months

The trial of a Russian billionaire banker who is accused of fraud, embezzlement and tax evasion has been postponed shortly after opening.

Platon Lebedev is a key shareholder in the Yukos oil firm which has been under sustained pressure from prosecutors.

Former Yukos boss Mikhail Khodorkovsky, is awaiting trial on similar charges.

Mr Lebedev's trial was postponed until 28 May, after his defence said they wanted to see if Mr Khodorkovsky's team intended to combine the cases.

The court granted their request for a delay.

'Essential delay'

Lawyer Yelena Liptser told RIA news agency it was essential to wait for Mr Khodorkovsky's preliminary hearings to take place before proceeding.

"If, during the preliminary hearing, Khodorkovsky's lawyers also seek to combine the Lebedev case with that of the ex-Yukos chief, we shall appear in court together on 28 May," she said.

Foreign investors are watching the cases closely, amid fears the government may be trying to take control of large corporations.

Mr Lebedev has been in custody since last July, charged with theft of state property during a privatisation deal in 1994, tax evasion and fraud.

The charges against him, which he has denied, relate to the company of which he is chairman, Menatep.

Prosecutors say Mr Lebedev and other Menatep officials won a 20% stake in Russian fertilizer manufacturer Apatit through a scheme involving several fake bidders in 1994.

They say the winning bidder never fulfilled its pledge to invest $283m (£160m) in the company.

Security

According to the charges, Mr Khodorkovsky masterminded the fraud.

There is tight security surrounding the court, with armed riot police guarding the building.

Judges kept most of the media out of the courtroom despite the case being declared open, according to the Associated Press news agency.

Mr Khodorkovsky, who at the time of his arrest was the chief executive officer of oil giant Yukos, remains in prison despite the efforts of his lawyers to have him released on bail.

He is hoping that his case will come to court in June or July.

Many believe that the trials are politically motivated.

But the Russian prosecutor-general's office insists that the principle whereby a person is innocent until proven guilty does apply in Russia.