QBF & NOA CIRCLE
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The Hard Truth
USD $250 million
10 COVER-UP ATTEMPTS IN 3 COUNTRIES
PEOPLE INVOLVED IN
THE SCAM HIDING
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Zelimkhan Munayev was sentenced for fraud committed by an organized group, on a particularly large scale.
21 September 2023
Presnensky District Court of the city of Moscow issued a guilty verdict in a criminal case against a 32-year-old resident of the capital, Zelimkhan Munayev. He was convicted under Part 2 of Art. 210 of the Criminal Code of the Russian Federation (participation in a criminal association (criminal organisation) and Part 4 of Art. 159 of the Criminal Code of the Russian Federation (fraud committed by an organised group on a particularly large scale).
The indictment in the criminal case was approved by the Prosecutor General's Office of the Russian Federation.
It was established that in the period from June 2012 to May 2021, Munayev, together with his accomplices, whose criminal case was separated into separate proceedings, was part of a criminal association organised on the basis of the KBB group of companies.
Munayev, together with other members of the criminal association, organised the signing of agreements with victims on behalf of affiliated foreign legal entities on direct access to the securities market. At the same time, the attackers misled citizens about the legality of activities related to securities transactions, as they did not have a mandatory license issued by the relevant authorised body.
Uninformed victims, believing that they invested their money for profit, concluded trust management contracts and deposited money in cash and non-cash methods.
Munayev, together with his accomplices, having the opportunity to dispose of the funds of the victims, used them not for the purposes specified in the contract but were kidnapped.
As a result of the criminal activities of Munayev and his accomplices, depositors' money in the amount of over 1 billion 238 million rubles were stolen.
The criminal case against the organiser of the criminal association has been separated into separate proceedings in connection with his being on the international wanted list.
Taking into account the position of the state prosecutor of the Presnenskaya inter-district prosecutors office, the court sentenced Munayev to 8 years of imprisonment in a general-regime correctional colony.