Bashneft, a mid-sized oil producer, was privatized in 2009. It was controlled by the government 
of Russia’s Bashkortostan region until 2003, when a major stake was sold
 to companies affiliated with Ural Rakhimov, son of the former head of 
Bashkortostan, Murtaza Rakhimov. In 2009, Russian oil-to-telecoms conglomerate Sistema gained control 
of the company.  In April 2014, investigators opened a criminal case 
linked to deals with Bashneft shares in 2002 to 2009. Rakhimov and Vladimir Yevtushenkov were implicated in the sale of 
Bashneft stock in 2009. Rakhimov was charged in absentia with 
embezzlement during the transaction and the subsequent laundering of the
 funds. He has been put on the international wanted list.
Yevtushenkov, the board chairman and largest beneficiary of Sistema, has been charged with money laundering.