Group Linkor shareholder faces premeditated bankruptcy charges

March 26, 2015. Sverdlovsk Region public prosecution authorities completed its indictment of a 53-year-old shareholder of Group Linkor involved in a criminal lawsuit.

According to the authorities’ press service, the man is charged with large-scale fraud (Article 159 (part 4) of the Russian Federation Criminal Code), premeditated bankruptcy (Article 196 of the Russian Federation Criminal Code), and fraudulent evasion of loans payable (Article 177 of the Russian Federation Criminal Code).

According to the inquiry team, Group Linkor shareholder falsely purchased the right to over 244,000 paperless shares from another shareholder in September-December 2008. As a result, over 255m RUR worth of damage was done to the latter.

After the purchase and sale agreement had been signed by the two parties, the shares were transferred to the buyer’s account, who thus became the company’s sole shareholder. As he had no intention of paying for the shares, the accused worked on alienation of company property and increasing its debts in order to turn the business insolvent.

Consequently, Group Linkor was declared bankrupt.

Moreover, the accused, who knew that enforcement proceedings were unfolding as Yekaterinburg Chkalovsky District Court’s ruling had come into effect, and who had been warned about the criminal sanctions for non-payment of debts, fraudulently evaded paying his creditors, even though he had the means to pay off a portion of his debts.

The files relating to the criminal lawsuit have been placed with Yekaterinburg Chkalovsky District Court.


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