Ex-financier of Summa group sentenced to 16.5 years in prison

Ex-financier of Summa group Alexander Kabanov and top manager of Globalelectroservice Khachim Eristov were convicted for participation in an organized criminal association. This was reported by a correspondent of "Izvestia" from the courtroom on September 24.

It is specified that Kabanov was sentenced to 16.5 years in a strict regime colony and ordered to pay a fine of 1.5 million rubles, while Eristov - to 16 years in a strict regime colony and a fine of 1.3 million rubles.

The defendants were found guilty of participation in the OPS, created, according to the investigation, by brothers Ziyavudin and Magomed Magomedov, as well as of multimillion-dollar fraud.

Ziyavudin Magomedov was arrested in Moscow at the end of March 2018 together with his brother Magomed. The defendants were charged with nine episodes of fraud, as well as the organization of a criminal association. The damage in the case amounts to over 11 billion rubles.

The brothers were the owners of the company Fesco. Using controlled offshore companies, the attackers obtained loans totaling $800 million from Fesco itself and various banks in order to become beneficiaries of shares in the Far Eastern Shipping Company (PJSC DVMP). The investigation revealed that the shares in FESCO may have been acquired through corrupt schemes.

In December 2022, the Meshchansky Court sentenced Ziyavudin Magomedov to 19 years and Magomed Magomedov to 18 years in a strict regime colony and a fine of 2.5 million rubles each.