Moscow’s Khamovnichesky District Court ordered a controlling stake in major Russian agricultural holding Rusagro transferred to the state following a lawsuit brought by the Prosecutor General’s Office.
According to court materials, the state received about 627 million shares associated with company founder Vadim Moshkovich, members of his family, former chief executive Maxim Basov and other related defendants. The shares amount to approximately 65.4 percent of the company’s equity.
The court also transferred other assets and funds belonging to the defendants to the state. The decision was ordered to take immediate effect.
The Prosecutor General’s Office alleged that Moshkovich violated anti-corruption restrictions while serving in the Federation Council between 2006 and 2014, continued engaging in business and used offshore structures. Those allegations represent the prosecution’s position.
Lawyers called the ruling unlawful and said they would appeal. Moshkovich and Basov are also defendants in a separate criminal case and deny wrongdoing.
Rusagro said its production, deliveries, employee payments and settlements with counterparties were continuing normally.
Reuters estimated the combined stakes affected by the broader seizure at roughly 67 billion rubles and described the ruling as one of the largest private-asset transfers to the Russian state in recent years.
Based on the reported number of shares transferred, the more precise stake is approximately 65.4 percent; the roughly 68 percent figure in some agency reporting was an approximate estimate of a broader combined holding.