Moscow court recovers $47.5 million from Summa Group’s company
MOSCOW, June 22 (RAPSI) – The Moscow Commercial Court has granted a lawsuit filed by Russian Capital company and recovered 3 billion rubles ($47.5 million) of debt from GlobalElectroService, a subsidiary of the troubled Summa Group, the court’s ruling reads.
The court also reviews an application of Soyuzdorproject company seeking bankruptcy of the defendant.
Last December, the Ninth Commercial Court of Appeals approved a settlement between two companies. According to the agreement, GlobalElectroService acknowledged its 36.2-million-ruble ($626,000) debt.
In June 2017, law enforcement officers conducted searches in GlobalElectroService. Reportedly, a criminal case was launched over overpricing works during preparation of construction site for a stadium in Kaliningrad. Top manager of the company Khachim Eristov, along with deputy construction minister for the Kaliningrad Region Amir Kushkhov and deputy head of the construction control in the region Sergey Tribunsky.
On March 31, the Tverskoy District Court of Moscow detained businessman Ziyavudin Magomedov suspected of organizing a criminal group and large-scale fraud. During the court hearing, an investigator noted that there are four more defendants in the case with two of them hiding in the United Arab Emirates.
Magomedov himself vehemently denied wrongdoing and said that all of his actions served development of his business. The defendant’s lawyer Maria Belyavskaya said that there is no indication that Magomedov committed a crime as an individual and as a businessman he may be only suspected of economic crimes.
Investigators believe that Magomedov organized a gang and embezzled 2.5 billion rubles ($43.5 million) from the state budget moving some of these assets outside the country. Other defendants in the case are his brother Megomed Magomedov and ex-CEO of construction company Intex Arthur Maksidov.