But the court decided to combine the punishment with the previously imposed and already fully served sentence of four and a half years for the fraudulent theft of a Sberbank loan worth 1.8 billion rubles. As a result, Geryugov was actually released from punishment. According to the new decision, the court of first instance must return to the issue of the bank’s civil claim against Valery Geryugov for more than 800 million rubles and the seizure of real estate, which will be used to cover the damage caused.
Previously, Geryugov was convicted of transactions worth 620 million rubles. The businessman was detained for the first time in 2017 after Sberbank filed a statement of major fraud in obtaining loans. During the period from 2012 to 2014, Visma received a loan for the development of the Arkhyz brand in the amount of 1.8 billion rubles, but already in 2014 the company stopped fulfilling the terms of the agreement. The bank’s proposal to restructure the debt was not accepted, so Geryugov began the process of bankruptcy of his company. 
Sberbank has already stated that it supports the decision of the cassation court and plans to use the seized property to partially repay its damage caused by the actions of V.A. Geryugov.
“ВЧК ОГПУ”
