EX-BENEFICIARY OF ARKHYZ RECEIVED 5 YEARS FOR DELIBERATE BANKRUPTCY

Valery Geryugov, who recently celebrated his 60th birthday, was sentenced by the Cherkess City Court to a criminal term and a fine of 900 thousand. The former owner of Arkhyz was found guilty of deliberate bankruptcy of his own company (Article 196 of the Criminal Code of the Russian Federation). The sentence – four years and nine months – the ex-entrepreneur must serve in a general regime colony.

The businessman was the owner of CJSC "Visma", the producer of mineral water "Arkhyz". According to the investigation, he managed to withdraw assets worth 1.5 billion rubles from the company's accounts in 2012-2013, Kommersant reports. The money was transferred to the accounts of one-day firms, contracts with which were subsequently invalidated.

Part of the debts claimed during the investigation were transferred by assignment of rights to various structures. As a result, the damage from the illegal actions of the head decreased to 801 million rubles.

The prosecutor's office, acting as the prosecutor at the trial, asked to sentence the accused to five years and seven months. However, the court reduced the sentence (the maximum under this article is six years). Also, the judge did not satisfy the claims of the victims, considering that they should be considered within the framework of separate civil proceedings.

This is the second criminal case against Deryugov. In 2019, a court for loan fraud sentenced a former top manager to 4.5 years in a general regime colony, which he spent in Stavropol in IK-6, where he was engaged in cattle breeding.

The reason for the punishment was the non-repayment of 1.8 billion loans that Visma received from Sberbank. Instead of debt restructuring, which was proposed by the credit institution, Deryugov declared bankruptcy of the company. The former head did not admit his guilt in the first and second criminal cases.

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