Switzerland's Zurich City Prosecutor's Office has instituted criminal proceedings against a well-known Russian businessman Telman Ismayilov, former owner of Moscow's Cherkizovsky Market.
Report informs citing the Interfax that the criminal proceedings against him were instituted on the basis of the claim of BM-Bank which belongs to Russian VTB Bank.
Ismayilov is accused of fraud and damaging creditors. If he is found guilty, he will face a maximum sentence of up to five years in prison.
By the information, "BM-Bank" granted three times $ 230 million loan to "Rusline 2000" and Tropicano Finance BV belonging to AST group owned Ismayilov from September 2012 to February 2014.
Recently, the Prague restaurant,owned by T.Ismayilov, Tropikano Business Center, AST Trade Center, and two apartments at Kutuzov Avenue in Moscow, as well as its Craig Valley Plaza Trade Center in the United States have been arrested by BM-Bank .
The lenders said that Ismayilov transferred part of his loan to banks in Switzerland.
Ismayilov's lawyer said that they learned about it from press.