Europe

Russian tycoon and associates suspected of embezzling over $35 million: court

Signage is seen in the main office of Russian holding Summa group in Moscow

Signage is seen in the main office of Russian holding Summa group in Moscow May 5, 2012. REUTERS/Yana Soboleva (RUSSIA – Tags: BUSINESS TELECOMS LOGO) – GM1E8551DKR01

MOSCOW (Reuters) – Moscow’s Tverskoy District Court said on Saturday that the co-owner of Russia’s Summa group, Ziyavudin Magomedov, and his associates are suspected of embezzling more than 2 billion rubles ($35.01 million), including from the state budget.

Russia’s Interior Ministry said earlier on Saturday that Magomedov and two of his business partners had been detained on suspicion of having embezzled large sums of state money.

(Reporting by Polina Nikolskaya; Writing by Gabrielle Tétrault-Farber; Editing by Christian Lowe)

 

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Categories: Europe, News Wire, World News

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