Moscow, April 18 - RAPSI. The case against Vladimir Nekrasov, former owner of Arbat Prestizh, and businessman Sergei Shnaider (Semyon Mogilevich) who were charged with tax evasion has been dismissed, according to Nekrasov’s lawyer, Alexander Dobrovinsky.

Dobrovinsky added that the investigation was dismissed due to a lack of evidence indicating constituent elements of crime. The defense noted that there would be no defamation of character suit.

“Vladimir lost $1.5bln. I doubt the investigators can return the money,” the lawyer said.

An investigation found that in 2005-2006 Nekrasov and Shaider filed a false income tax declaration thereby sidestepping over 115mln rubles in income tax.

The defendants pleaded not guilty and asserted that the main purpose of the case was to shut down Arbat Prestizh.

Arbat Prestizh was founded in 1989. The perfume and cosmetics chain was closed after its owner, Nekrasov and Evergate consultant, Shaider were arrested.