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Russian billionaire arrested for misappropriation of public money for world cup stadium

Sijavoedin Magomedov had Saturday for the right to appear in front of several complaints of embezzlement of public money, for a total of 2 billion rubles (€28 million). The money was meant for the construction of the world cup stadium in Kaliningrad.

According to the newspaper Kommersant, Magomedov is accused of the embezzlement of 752 million rubles that was intended for the construction of the stadium in the Russian enclave on the Baltic Sea. According to the public prosecutor would be a construction company that Magomedovs empire belongs, sloppy work, have supplied the groundwork of the stadium.

The Arena Baltika, is the thorny issue of the soccer world cup that takes place in Russia from 14 June to 15 July. The building is constructed on a marshy ground and the activities have been much delayed. Last year, several local officials were arrested for irregularities in the construction of the stadium. The Red Devils play on the 28th of June in this stadium against England.

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Magomedov is co-owner of Summa Group, which is active in different sectors such as havenlogistiek, construction, telecom and the gas and oil sector. He acquired his wealth under the previous Russian president (and current prime minister) Dmitri Medvedev, helped by contracts with the Russian state. According to Reuters, he was last year on the 63rd position in the Forbeslist of richest Russians, with a fortune of 1.4 billion dollars (1.1 billion euros). In January, he went on in a list of the American ministry of Finance as one of the 96 oligarchs who are closest to president Vladimir Putin.

However, it is Magomedov not to the confidants of Putin, despite his loyalty towards the Kremlin. Within the group of business leaders in the same situation is sometimes whispered that the zakentycoons be sued as part of a plot by the Kremlin or rivals with ties to Putin to get them on the side to scroll. That the authorities denied.

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