(MENAFN) A Moscow court sentenced a notorious billionaire, his ex-senator brother, and several other executives to hefty jail terms on Thursday for a criminal conspiracy to steal billions of rubles from the federal budget. One of the conspirators' main projects was a stadium in Kaliningrad for the 2018 World Cup.
Ziyavudin Magomedov, 54, received a 19-year term in a maximum-security prison camp. In addition, the founder of Summa Holding was stripped of two government service awards and would serve two more years on probation upon his ultimate release.
His brother Magomed, a former Federation Council member, will serve 18 years in a prison camp and face 30 months of probation on top of that. Both Magomedovs must also pay a 2.5-million-ruble ($40,800) punishment.
The Magomedovs were accused of orchestrating a criminal conspiracy involving 20 corporate leaders that cost the Russian government 11 billion rubles ($179 million) between 2010 and 2016.
Among the nine embezzlement cases were building projects in St. Petersburg and Kaliningrad, such as the Baltika stadium erected for Russia's World Cup four years ago.
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