Court extends pre-trial detention of oligarch who funded Khabib
Karim Zidan delves into the upcoming trial of Ziyavudin Magomedov, the Dagestani oligarch who funded UFC champ Khabib Nurmagomedov’s career, as well as Russian promotion Fight Nights.
Last week, the Tverskoy District Court of Moscow once again extended the detention period for billionaire Ziyavudin Magomedov and his brother, former senator Magomed Magomedov. The brothers have been accused of forming a criminal organization, fraud, and embezzlement.
According to reports, the court extended the brothers’s detention period until the end of July, which will mark well over two years since the two men were arrested. Magomedov was detained on March 31 2018 and charged with embezzling over 2 billion rubles (approx. $31 million USD at the current exchange rate), fraud, and of organizing a gang.” According to Russia’s Ministry of Internal Affairs, Magomedov had been under investigation prior to his arrest to determine whether he embezzled money during the construction of a World Cup stadium in Kaliningrad, which his Summa Group company won the rights to build in 2014.
The Magomedov brothers have both pleaded not guilty to the charges. However, if found guilty, the brothers could face up to 20 years in prison.
Magomedov is the main owner of Summa Group, a private investment company with investments in telecommunications, construction, port logistics, as well as the oil and gas sectors. HIs wealth is estimated at $1.2 billion and his company employs over 10,000 people in approximately 40 regions in Russia.
Within the MMA sphere, Magomedov was known for the financial support he gave several fighters, including UFC lightweight champion Khabib Nurmagomedov. Magomedov reportedly paid for the UFC champ’s back surgery in 2017, which was done in Germany, and funded the majority of Nurmagomedov’s expenses during training camps. He owned a controlling share of Fight Nights Global, one of the most successful and popular promotions in the country.
Magomedov also founded the Eagles MMA fight team, which UFC champ Khabib Nurmagomedov is currently president of. The gym recently came under fire after it was reported that one its executives, Denis Klopnev, was arrested in absentia for the attempted murder of sambo fighter Shamil Kuramagomedov, a bronze medalist in the 2017 Russian Combat Sambo Championship.