Former top managers of the transport and logistics group FESCO, Andrei Severilov and Boris Ivanov, have been arrested for two months, the press service of the courts of general jurisdiction of the city of Moscow reported. They are accused of embezzling 885 million rubles belonging to the Vladivostok Commercial Sea Port (part of the group). The defendants did not admit guilt.
Severilov held the post of chairman of the FESCO board of directors, while Ivanov was the holding's vice president for production development. The criminal case was opened on February 11 under Part 4 of Article 160 of the Criminal Code (embezzlement on an especially large scale) — it provides for up to ten years of imprisonment.
The third person involved, former FESCO president Arkady Korostelyov, according to RBC sources, fled the investigation abroad. In court, former company co-owner Mikhail Rabinovich was named as the organizer of the criminal group. His stake in FESCO was seized for state revenue back at the beginning of 2023.
The controlling stake in FESCO (92.4%) passed to the state in January 2023 by court decision. And at the end of the same year, the assets were transferred to the state corporation Rosatom. The group itself said that operations are proceeding as normal and that management is assisting the investigation.
FESCO is one of the largest players in Russia's transport and logistics market. The company operates about 30 vessels, 10 thousand flatcars and 135 thousand containers, and is also testing shipments along the Northern Sea Route.
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