RF Interior Ministry: co-owners of Summa Group detained on charges of embezzling of budget resources
Interior Ministry of Russia says its officers, in cooperation with other law-enforcement bodies, have performed criminal investigations over a case on embezzlement of public funds on a grand scale.
The investigations were launched in 25 constituent territories of the Russian Federation under part 4 of Article 159 and Article 210 of the Russian Criminal Code due to the embezzlement of public funds including those allocated for construction infrastructure and power supply facilities.
Co-owners of Summa Group, Ziyavudin Magomedov and Magomed Magomedov, as well as Artur Maksidov, head of the Group’s company, were detained on suspicion of having committed the mentioned crimes.
According to Irina Volk, official representative of RF Interior Ministry, the materials have een submitted to the court, the criminal investigation is underway.
Summa Group is a diversified private holding company with significant investments in port logistics, engineering, construction, telecommunications, and the oil and gas sector. Among Summa’s assets are Novorossiysk Commercial Sea Port, TransContainer and FESCO.