The Magomedov brothers were nationalized
The court removed the arrest from 49.99% of the shares of FESCO, which belonged to the companies of Ziyavudin Magomedov.
The Moscow Arbitration Court lifted the arrest from a 49.99 percent stake in PJSC Far Eastern Shipping Company (FESCO; parent company FESCO), which previously belonged to the Cypriot companies Smartilicious Consulting Ltd and Enviartia Consulting Ltd., controlled by the convicted businessman Zayavudin Magomedov. The arrest was lifted in connection with the conversion of shares into state revenue, the court ruling says.
The arrest of these shares was imposed as part of interim measures under the claim of FESCO for the recovery of more than 80.1 billion rubles from Magomedov and five foreign companies. and about $ 13.8 million. The arbitration court satisfied the claim and recovered funds from the convicted businessman and four of the five defendant companies. Among them are GS Universal Investment Holdings Ltd (British Virgin Islands), Cypriot Maple Ridge Ltd, Smartilicious and En. The court refused to recover funds from Felix LP (Cayman Islands).
In connection with the satisfaction of the claim, the need for interim measures disappeared, therefore, on July 24, the FESCO filed a petition with the Arbitration Court to cancel them.
On December 1, 2022, the Meshchansky Court of Moscow sentenced the brothers Ziyavudin and Magomed Magomedov to 19 and 18 years in prison and fines of 2.5 million rubles each, finding them guilty of creating an organized criminal community (part 1 of article 210 of the Criminal Code of the Russian Federation), especially major fraud (part 4 of article 159 of the Criminal Code of the Russian Federation) and embezzlement (part 4 of article 160 of the Criminal Code hzikhidtidekrt RF).
