Tuesday , Apr , 13 , 2010 Hoopsvibe

NBA Fine with Prokhorov’s Business in Zimbabwe

Prospective New Jersey Nets owner Mikhail Prokhorov came to his own defense Monday and was backed by the NBA after a congressman accused the Russian billionaire’s company of violating sanctions and U.S. law by doing business with the government of Zimbabwe.

"Onexim Group takes very seriously the issue of law and sanctions as applied to Zimbabwe," Prokhorov said in a statement released through his company during the Nets’ final game at the Meadowlands. "Contrary to erroneous media reports, the company and all of its holdings have always been in strict compliance with all United States and European rules regarding Zimbabwe and have had no dealings whatsoever with companies or individuals on the sanctions list."

"Onexim Group and Mikhail Prokhorov have been open and transparent about all their business dealings throughout the extensive NBA review process, and they intend to maintain this position going forward," the statement said.

New Jersey congressman Bill Pascrell has called for a government investigation (through the U.S. Treasury department, which monitors sanctions) of Prokhorov’s business dealings in Zimbabwe, alleging the NBA’s background check on Prokhorov was "disgusting." 

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