Emfesz’s CEO get’s Scooby-doo-ed.

If it wasn’t for those darn kids he would have gotten away with it. It is reported that CEO István Góczi of Emfesz was arrested by Hungarian authorities for embezzlement. According to this article it was Góczi who used the power of attorney to sell Emfesz to RosGas. But one can never know for certain in this murky game of Russian/Ukrainian/Hungarian gas.

It also wouldn’t be the first arrest in relation to Emfesz, if this report is to be believed,

In January 2008 [Semen] Mogilevich was arrested in Moscow on charges of aiding and abetting a tax evasion scheme, but many observers believed this was false and that his arrest was directly linked to a struggle between Firtash and Gazprom over the control of Emfesz. According to informed sources, prior to his arrest Mogilevich disclosed that Gazprom was determined to take over Emfesz and that he had played a role in this plot.

What is clear is that Dmitry Firtash lost (temporarily?) a profitable Hungarian company from his holding company Group DF to RosGas, which is suspected of being tied to Gazprom, although the latter denies this.

Now the question comes up as to whether you dear reader believe in coincidences. The arrest occurred on November 11th, the day before MOL and Surgutneftgas appear in a Budapest court to go over their differences. MOL is resisting registering Surgutneftgas as a shareholder, as it is not approved by the Hungarian Energy Office.

Now, if the Hungarians wanted to send a message to the owners of Emfesz and Surgutneftgas then this would be a pretty strong message. From the arrest then this may be a signal to back off. But that is only if you believe in coincidence. Either way, just like those darn kids in Scooby Doo, it looks like the Hungarian authorities found some Scooby snacks and decided to take action against a specter.