Ukrainian businessman Mkrtchan sentenced to 9 years in Russia, court recovers $3bn
The businessman has been found guilty of fraud.
The Moscow City Court announced the verdict to the General Director of the Industrial Union of Donbass Corporation, the former owner of the Kuban football club Oleg Mkrtchan.
For the theft of more than 1 billion rubles ($15 mln) from VEB (Vnesheconombank), Mkrtchan was sentenced to nine years in a penal colony, Interfax reports. A businessman is also required to pay a fine of 900 thousand rubles ($13.5mln).
From the operative part of the verdict announced by the judge, it follows that Mkrtchan organized the theft of VEB funds allocated for the development of the corporation.
The court recovered from the businessman 198 billion rubles ($3bln) in a lawsuit by the injured party in favor of the Industrial Assets Fund, the RAPSI reports.
In the criminal case, the businessman’s property was seized, including metallurgical plants in the Tula Region and the Stavropol Krai and the assets of the Russian Mining and Metallurgical Company, reports the Uplift Telegram channel.
The businessman was arrested on February 8, 2018 in Moscow. The state prosecution asked the Moscow City Court for nine years in the general regime colony of Mkrtchan, who was accused of “fraud committed by an organized group or on a large scale.” According to the investigation, under the guise of legal transactions from 2009 to 2013, he arranged for Vnesheconombank to receive credit funds through a foreign offshore company. Mkrtchan himself pleaded not guilty.
The state of Mkrtchan is estimated at $1.25 billion. He has citizenship of Ukraine and Russia. The businessman headed the board of directors of Kuban since 2013, in 2016 he announced the termination of funding for the club.