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Prosecutor seeks 8-years prison term for Russian tycoon Polonsky in embezzlement case

15:58 20/06/2017

MOSCOW, June 20 (RAPSI, Oleg Sivozhelezov) – A prosecutor in the criminal case against Russian developer Sergey Polonsky, charged with large-scale embezzlement, had asked the court to sentence the defendant to eight years in prison and a 900,000 rubles (about $15,000) fine, RAPSI learnt in the Presnensky District Court on Tuesday.

Polonsky is charged with embezzlement of 2.6 billion rubles ($41 million). In December of 2016, after a prosecutor had read the closing indictment, Polonsky denied the charges.

According to investigators, Polonsky, aided by Alexander Paperno, Head of the Mirax Group Finance Department and Alexey Pronyakin, CEO of Avanta company, have defrauded participants of shared construction apartment projects of 2.6 billion rubles ($41.2 million), thus committing a serious crime.

Polonsky, who is the founder of Potok (formerly Mirax Group), a diversified corporation that has been involved in several large development projects, is deemed to cause damages in amount of 2.4 billion rubles (around $38 million) regarding Kutuzov Mile and 256 million rubles (around $4 million) with regard to Rublyovskaya Riviera development projects.

Other projects Polonsky has been involved in include Federation Tower in the Moscow International Business Center, office buildings Mirax Plaza, Poklonnaya 11 and Admiral, condominium developments Mirax Park, Golden Keys 1 and 2, and the Well House.

In May 2015, the Cambodian authorities, where Polonsky had been avoiding Russian prosecution, extradited him to Russia.

If convicted, Polonsky could face up to ten years in prison.

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Prosecutor seeks 8-years prison term for Russian tycoon Polonsky in embezzlement case

15:58 20/06/2017 A prosecutor in the criminal case against Russian developer Sergey Polonsky, charged with large-scale embezzlement, had asked the court to sentence the defendant to eight years in prison and a 900,000 rubles (about $15,000) fine.
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