Russian court to hear bankruptcy claim against Yakut subsidiary of Summa Group
MOSCOW, November 14 (RAPSI) – The Commercial Court of Russia’s Republic of Sakha will consider a bankruptcy claim against the Yakut Fuel and Energy Company, a subsidiary of Summa Group, on January 9, 2019, according to court records.
The application has been filed by the Yakut company King-95.
Summa Group owner Ziyavudin Magomedov and his brother, the company’s co-owner Magomed Magomedov, who are charged with organizing a criminal gang and embezzlement, have been recently additionally accused by investigators of stealing 300 million rubles ($4.6 million).
According to investigation, the funds were stolen during the construction of a highway in South Siberia in September 2014.
A court has extended their detention until early February 2019.
Ziyavudin Magomedov and Magomed Magomedov are involved in the organization of a gang, embezzlement of 2.5 billion rubles (about $38 million at the current exchange rate) from the state budget and withdrawal of some of these assets abroad, investigators claim. Magomed Magomedov is also charged with illegal weapon possession. They have been detained along with ex-CEO of Intex construction company Arthur Maksidov. The defendants have pleaded not guilty to the charges.
Two more defendants in the case, who allegedly fled to the United Arab Emirates, were arrested in absentia and put on the international wanted list.