A court in Moscow declared the owner of the Summa group, Ziyavudin Magomedov, bankrupt.

The Moscow court declared bankrupt Ziyavudin Magomedov, who previously headed the Summa group and is serving time in the case of embezzlement of 11 billion rubles. Information about this was posted on the court's file on the website on November 14.

It is specified that the entrepreneur's property is subject to sale at auction as part of the bankruptcy procedure.

As follows from the materials of the instance, the decision to declare Magomedov bankrupt was made at the request of GlobalElectroservice, part of the Summa Group of Companies, as well as the Infrastructure Group of companies.

Ziyavudin Magomedov was arrested in Moscow at the end of March 2018, along with his brother Magomed. The defendants were charged with nine counts of fraud, as well as organizing a criminal community. The damage in the case amounts to over 11 billion rubles.

In December 2022, the Meshchansky court sentenced Ziyavudin Magomedov to 19 years, Magomed Magomedov to 18 years in a high—security penal colony and a fine of 2.5 million rubles each. The Moscow City Court reduced Magomedov's sentence by six months, to 18.5 years.

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