MOSCOW, March 20 (RAPSI) – The Moscow Commercial Court has extended an asset sale procedure against Global Electro Service, a subsidiary of Summa Group, for six months, according to court records.
On August 17, the court is expected to consider an application filed by the Global Electro Service business manager seeking to revover 17.1 billion rubles jointly from Summa Group owner Ziyavudin Magomedov, his brother Magomed and 14 other individuals and legal entities.
In November 2019, the company was declared bankrupt.
Summa Group owner Ziyavudin Magomedov and his brother Magomed are involved in the organization of a gang, embezzlement of 2.5 billion rubles (about $38 million at the current exchange rate) from the state budget and withdrawal of some of these assets abroad, investigators claim. Magomed Magomedov is also charged with illegal weapon possession. They have been detained along with ex-CEO of Intex construction company Arthur Maksidov.
At the same time, it was discovered that Ziyavudin Magomedov and his brother had been additionally charged with stealing 300 million rubles ($4.6 million) during the construction of a highway in South Siberia in September 2014.
The defendants have pleaded not guilty to the charges.Moreover, according to investigators, French authorities have opened a tax evasion case against ex-wife of Ziyavudin Magomedov Olga, who owns several restaurants in France. No other details have been disclosed.