Cuba asked for $55-million, assets to release Canadian CEO, company says

Cuba asked for $55-million, assets to release Canadian CEO, company says
ALLISON MARTELL AND DANIEL TROTTA
TORONTO/HAVANA — Reuters
Published Monday, Sep. 29 2014, 2:25 PM EDT
Last updated Monday, Sep. 29 2014, 6:47 PM EDT

Cuba offered to free jailed Canadian executive Cy Tokmakjian in return
for $55-million and company assets, his company said on Monday, but the
deal fell through because the firm didn't have the money and the
businessman wanted to clear his name.

Tokmakjian, 74, founder and chief executive of transportation firm
Tokmakjian Group, was sentenced to 15 years in prison on Friday after
being convicted of bribery and other economic charges in a case that
lawyers and diplomats called a chilling development for potential
foreign investors.

Source: Cuba asked for $55-million, assets to release Canadian CEO,
company says - The Globe and Mail -
http://www.theglobeandmail.com/report-on-business/cuba-asked-for-55-million-assets-to-release-canadian-ceo-company-says/article20834467/