MOSCOW, December 9 (RAPSI) – The Omsk Regional Commercial Court has completed bankruptcy proceedings against ex-CEO of Mostovik construction firm Oleg Shishov, according to court records.

An asset sale procedure is finished; Shishov is relieved of obligations, the court has held. 

In 2016, Shishov was convicted and sentenced to 4 years in prison for evading about 500 million rubles in taxes.  According to investigators, between 2009 and 2011, Shishov forged financial documents and tax declarations of Mostovik, falsely reporting completion of construction works in Vladivostok and other cities by outside contractors.

Investigators claimed that these contractors had not done any works and the projects were completed by employees of Mostovik itself. As a result, investigators said that Shishov evaded paying over 478 million rubles in taxes. He pleaded guilty. Additionally, investigators alleged that he embezzled 526 million rubles ($7.2 million at the current exchange rate) received as advance payment for construction of the Omsk ring road.

In March 2017, Shishov was released on parole.

In March 2018, investigators opened a new case over tax evasion and fraud against Shishov.

In November 2019, the Omsk Regional Commercial Court declared Shishov bankrupt and introduced a property sale procedure against him for 5 months. The total amount of Shishov’s outstanding money liabilities exceeds 43 billion rubles ($590 million), according to court records. His incomes and assets fall short of satisfaction of all the creditor's claims, the court held.

In December 2019, Russia’s Rosbank filed a claim to add a 2 billion-ruble (about $30 million) debt to the list of Shishov’s creditors. Earlier, the court set a similar application filed by Gazprombank against Shishov for January 21. The financial organization demands 3.7 billion rubles (about $50.5 million at the current exchange rate) from him.

In April 2020, the Omsk Regional Commercial Court granted Shishov’s claim to allocate him monthly 13,060 rubles from the bankruptcy estate for buying medical drugs.