UPDATE: Putin spox: Magomedovs arrest follows budget spending checks - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: Putin spox: Magomedovs arrest follows budget spending checks

(Adds comments by business ombudsman in last two paragraphs)

MOSCOW, Apr 2 (PRIME) -- Arrest of brothers Ziyavudin and Magomed Magomedov, co-owners of Russian multi-industry holding Summa Group, is not a one-time measure, but a focused policy of monitoring of budget spending, presidential spokesman Dmitry Peskov told reporters on Monday.

No, this is not some one-time action. You know, we conduct tough and straight policy in monitoring of budget spending. Weve heard about the Magomedov brothers charges. The investigation is going on, so it would be incorrect to say something about it. The court is to study the evidence and to define the degree of guilt or innocence of the arrested people, Peskov said.

On March 31, the Tverskoi District Court of Moscow sanctioned arrest of the Magomedov brothers on charges of a 2.5 billion ruble embezzlement. It also arrested Artur Maksidov, CEO of Summas construction subsidiary Inteks, on charges of a 669 million ruble embezzlement.

Ziyavudin Magomedovs arrest pushed shares of his companies -- Commercial Port of Vladivostok, Novorossiysk Commercial Sea Port (NCSP), and railway container operator TransContainer down on the Moscow Exchange.

Peskov said that claims that arrest of the Magomedov brothers is part of the fight of different political elites prior to formation of a new government is mere gossip.

Business ombudsman Boris Titov said he believes that arresting entrepreneurs during investigation is destroying their business, while in case of the Magomedov brothers a house arrest would be sufficient.

We are against arrest of entrepreneurs at the stage of investigation. In accordance with the 108 clause of the Criminal Code they should not be arrested, because this destroys their business. In case with the Magomedov brothers it (business) may turn to be in a very difficult state. If there was a threat of fleeing aboard, a house arrest could have been applied, he said.

(57.2649 rubles U.S. $1)


02.04.2018 17:08
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 74.9022 -0.6336 17 nov
USD 65.9931 -0.6228 17 nov
Stock Market Indices
1D 1W 1M 1Y
rtsi 1134.93 +0.34 18:50 16 nov
micex 2372.67 -0.37 18:50 16 nov
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 153.16 -0.64 18:49 16 nov
lkoh 4824.00 -0.62 18:49 16 nov
rosn 420.85 -0.80 18:49 16 nov
sber 199.26 -0.44 18:49 16 nov
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 74.9025 -0.2975 14:59 16 nov
USDTD 65.7225 -0.8775 17:44 16 nov