MOSCOW, February 27 (RAPSI) – The Moscow City Court has upheld a ruling of a lower court returning a criminal case against CEO of Forum Holding Company Dmitry Mikhalchenko, who stands charged with alcohol trafficking, to prosecutors, the court’s press-service has told RAPSI.

The ruling of the Basmanny District Court of Moscow has come into force. According to a representative of the court, one of the reasons for this decision is absence of evidence presented in the indictment. In particular, there was no mention of time and place of the crime as well as evidence of alleged organization of a criminal group.

Mikhalchenko, CEO of Forum Holding Company, was arrested and detained in late March 2016. Investigators believe that he has organized trafficking of alcoholic products from countries of the European Union. Allegedly, in 2015, products were obtained in European shops, collected in the port of Hamburg and then smuggled into Russia. Reportedly, the caused damage is estimated at more than 61 million rubles ($1 million).

Forum Holding Company established in 2011 is one of the largest multibusiness companies in Saint-Petersburg.

The company has united several dozens of the city’s enterprises and organizations. Forum Holding consists of industrial enterprises, such as "Spinning Mill named after S.M. Kirov", the oldest textile industry enterprise in Russia, "Izmeron" factory, one of technological leaders of Russia’s downhole equipment market, according to the company’s website.