President Vladimir Putin signed on Wednesday a decree transferring to Russia’s state nuclear energy firm Rosatom state-owned shares of the Far Eastern Shipping Company, guardian firm of transportation group Fesco.
Fesco was previously managed by Ziyavudin Magomedov, who was convicted final 12 months on organized crime and embezzlement expenses and is serving a 19-year jail sentence following one of many highest-profile prosecutions of a Russian tycoon in years.
Magamedov says the fees are unfounded and is interesting his conviction. He has beforehand alleged that the Russian state wished to deliver Fesco – which operates ports, together with a key port in Vladivostok – beneath Rosatom’s management.
In January this 12 months, on the request of the Russian Prosecutor’s Office, a courtroom transferred to the state 92.4% of Fesco’s shares which had belonged to Magomedov and his companions, Russian media reported.
Magomedov filed a lawsuit at London’s High Court on July 20 looking for practically $14 billion over the seizure of his holdings.
The defendants within the case embody Rosatom, oil pipeline operator Transneft, personal fairness agency TPG and UAE-based port operator DP World.
Magomedov, 55, claims his 2018 arrest on the embezzlement expenses had prompted what he says is a Russian state-supported expropriation scheme, largely for the good thing about Rosatom and Transneft, in keeping with courtroom filings.
(Reuters – Reporting by Gleb Stolyarov; Writing by Gareth Jones, enhancing by Emelia Sithole-Matarise)
