Court arrests Magomedov brothers

Ziyavudin Magomedov, the chairman of the board of directors of the "Summa" Group of Companies and one of the richest Russia's businessmen, and his brother, ex-senator Magomed Magomedov, were arrested today by the Tver District Court of Moscow. The natives of Dagestan, Magomedov brothers are suspected of creating a criminal community and embezzling 2.5 billion roubles from the state budget.

The "Caucasian Knot" has reported that, according to the Forbes, as of March 6, 2018, the Dagestani businessman Ziyavudin Magomedov was the 79th in the list of the richest Russia's businessmen with his estimated fortune of 1.2 billion US dollars.

The Tver District Court of Moscow has selected, for Ziyavudin Magomedov and his brother, a freedom restriction measure in the form of detention for two months – until May 30.

During the court session, Ziyavudin Magomedov has stated his categorical disagreement with the charges, treating them as illogical and noting that he had invested six billion roubles from his own funds into the United Grain Company, and nine billion more into the construction and engineering complex and, in general, plans to develop projects in Russia. "It would be strange to steal from myself," the "Interfax" quotes him as saying.

In the course of the session, his advocates have pointed to the alleged nature of all the claims to the businessman. After the judgement, the "Summa" Group reported that they disagreed with the arrest of the businessman and would appeal against it, the RIA "Novosti" reports.

Full text of the article is available on the Russian page of 24/7 Internet agency ‘Caucasian Knot’.