Group Menatep

Bank "MENATEP", Bank "MENATEP SPb" (Russian: Банк "МЕНАТЕП Санкт-Петербург" / Банк «МЕНАТЕП СПб») and "Group Menatep Limited" were financial companies, created by Russian businessman Mikhail Khodorkovsky. The companies were involved in a huge money laundering scandal that unfolded from the mid 1990s onwards. "Group Menatep Limited", the US$29 billion holding company that had indirect controlling interest in Yukos Oil Company, was later renamed, and now still exists as holding company GML with Leonid Nevzlin as principal shareholder holding a stake of around 70 percent. The other four ultimate beneficial owners who own an equal stake each are Platon Lebedev, Mikhail Brudno, Vladimir Dubov and Vasily Shakhnovsky.

In 1986, the Center for Scientific and Technical Creativity for Youth - TSMNTP (Russian: Межотраслевой Центр Научно-технических программ — ЦМНТП) was created in Moscow by Mikhail Khodorkovsky. Center Menatep was attached to the Komsomol committee in Moscow's Frunzensky District. In 1987, Leonid Nevzlin, a software engineer, met Khodorkovsky and became a Deputy Director at the Center.

Later on, in December 1988, Khodorkovsky established one of the first private banks in Russia, the Commercial Innovation Bank of Scientific-Technical Progress, headquartered in Moscow and renamed in 1990 "MENATEPinvest".

In May 1990, Interbank Association "MENATEP" was registered, subsequently renamed by Khodorkovsky as International Financial Association "MENATEP" (Russian: Международное финансовое объединение МЕНАТЕП / МФО МЕНАТЕП) in 1991. Alexey Golubovich joined MFO MENATEP as the principal economist in 1992. He also served as head of the investment department and the vice-president of the bank MENATEP from 1992 till 1996. In 1997 MFO Menatep became a subsidiary of Khodorkovsky's newly created, Gibraltar-registered holding company Group Menatep Limited.

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