MOSCOW, September 28 (RAPSI) – One of the largest Russian banks, VTB, has filed an application with the Moscow Commercial Court seeking to include a 429.9-million-ruble ($6.5 million) debt of GlobalElectroService company, a subsidiary of the troubled Summa Group, in the creditors demands list, the court documents read.
The case will be heard on January 29, 2019.
In August, the court initiated a monitoring procedure against the company on the request of NT-Com Engineering.
On March 31, the Tverskoy District Court of Moscow detained businessman Ziyavudin Magomedov charged with 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.