Magomedov denies guilt

Photo: EPA

The Tver court of Moscow arrested the co-owner of Summa group Ziyavudin Magomedov, said

Detained billionaire will be until may 30.

Magomedov, suspected in the theft of 2.5 billion rubles (about UAH 1.2 billion). He was charged under articles 159 (fraud), 160 (embezzlement) and 210 (organization of criminal group) the Criminal code of the Russian Federation.

The suspect denies guilt.

Criminal case, which involves Magomedov, for funds allocated for the construction of world Cup 2018 stadium “arena Baltika” Kaliningrad.

The investigation stated that the billionaire wanted to leave Russia. Two of his accomplice declared in the international search.

Magomedov ranks 63rd in the list of the richest businessmen of Russia in 2017, compiled by Forbes. His fortune is estimated at $1.4 billion.