INSUBCONTINENT EXCLUSIVE:
A Moscow court has sentenced ex-billionaire Ziyavudin Magomedov to 19 years in a maximum-security prison on charges of embezzling state
presidency as the founder and main owner of Summa, a Russian holding that unites companies in a variety of strategic sectors including port
logistics, telecommunications and oil transport.Summa had had a stake in a number of critical infrastructure and development projects,
including the construction of a football World Cup stadium in the Baltic exclave of Kaliningrad and oil transfer operations in the Black Sea
2018 together with his older brother and former Federation Council member Magomed Magomedov, 55, who was also accused of fraud and
awards in addition to his 19-year prison sentence.Magomed Magomedov meanwhile was sentenced to 18 years in prison and fined 1.5 million
rubles ($24,500).Ziavudin Magamedov has denied the charges against him, labeling the case "a symbiosis of lies and absurdity."Forbes
estimated his net worth at $1.2 billion at the time of his arrest in 2018.
