Businessman Ziyavudin Magomedov, who received a 19-year sentence in a maximum-security penal colony, filed a lawsuit in the High Court of London seeking roughly $14 billion in value tied to his shares in port-operating ventures. The development was reported by Reuters. The action, filed on July 20, targets a complex web of corporate actors and alleged schemes surrounding his stake in the shipping and port logistics ecosystem. The defendants named in the case include Transneft, the state-controlled oil pipeline operator; investment group TPG; and port operator DP World, each positioned as either a conspirator or beneficiary in the contested share transactions.
Magomedov asserts that these entities colluded to acquire his stake in the shipping conglomerate FESCO, a deal that, if realized as he claims, would approximate $8.8 billion in value. The claim points to a calculated acquisition strategy that allegedly deprived him of his rightful holdings and profits, a narrative the plaintiff maintains is backed by documentary evidence and testimony gathered over a lengthy dispute timeline. In response, TPG rejected every allegation as false and indicated it would vigorously defend itself against the accusations.
Earlier legal moves in Russia had already established a substantial financial judgment. The Moscow Arbitration Court approved a decision ordering the recovery of more than 80.1 billion rubles from Magomedov and three foreign companies, a sum linked to damages claimed by Far Eastern Shipping Company, the parent company of the FESCO group, totaling about $13.8 million. This procedural sequence underscores the scale of the dispute, attracting attention from observers in the Russian business sector and beyond.
On December 1, 2022, the Moscow Meshchansky Court handed down a 19-year term for Magomedov, convicting him of forming a criminal network and embezzling 11 billion rubles. The sentence was served in a maximum-security facility alongside a substantial fine of 2.5 million rubles. His brother, a former senator and former co-owner of the Magomedov enterprise group, also faced imprisonment, receiving an 18-year term. A similar punishment was delivered to another related executive, reflecting the court’s efforts to address corruption and abuse of influence within the business empire.
Recent public discourse surrounding the case has reflected a spectrum of opinions from officials and industry commentators, with some urging caution against overinterpretation of rapid legal developments while others emphasize the broader implications for corporate governance and accountability in high-stakes Russian business affairs.