Penza, 18 May 2018. PenzaNews. The verdict under which the general director of the Penza joint-stock company Incom-Soyuz, Evgeny Cherkasov, will spend 6 years in a general penal colony for a large scale fraud has entered into legal force.

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As it was said by an official representative of the Leninsky district court of Penza, in the period from March 2013 to February 2016 the criminal had been spreading false information about fund raising allegedly for the purpose of purchasing shares of major companies including Gazprom for their subsequent sale on favourable terms.

"However, he had no intention to carry out the specified activities and simply stole the money received from citizens and used it at his own convenience," the interlocutor said.

According to him, for some time Evgeny Cherkasov managed to create a semblance of successful work demonstrating fictitious contracts of purchase and sale and even partially paying monthly payments on the borrowed money.

The court representative added that dodging the refund to its clients the businessman suggested that they invested the accrued interest as another investment.

"As a result of Evgeny Cherkasov's criminal actions 16 citizens suffered material damage in the amount of about 105 million roubles," the interlocutor specified.

He noted that the general director of Incom-Soyuz had not pleaded guilty at the hearing.

"The declared civil suits of 11 victims were satisfied for a total amount of 79,912,256 roubles," the court representative added.

He said that the judgement of the first-instance court as of December 28, 2017, had been appealed but the regional court had not satisfied it.