17:46, 14 December 2017

The Bell reports failure of Kerimov's multi-million investment

Suleiman Kerimov. Photo: Hlebushek https://ru.wikipedia.org

Suleiman Kerimov, a Senator from Dagestan, has unsuccessfully invested up to 200 million US dollars into the Snapchat messenger, the Bell Company reports citing top managers of investment funds and businessman's acquaintances.

The "Caucasian Knot" has reported that on November 20, Kerimov was detained in France. The court accused him of money laundering as a result of tax evasion. He was released on bail of 40 million euros.

Kerimov had illegally brought from 500 to 750 million euros into France, the Nice City Prosecutor has stated.

Prior to the IPO (Initial Public Offer) of the Snapchat Instant Messenger, Kerimov had invested into the shares thereof. For investors, this company was the main disappointment of the year, the Bell notes.

The Snapchat is a mobile application of exchanging messages with attached photos and videos. Its peculiarity is that images and messages are only available for a short time, and then disappear.

Suleiman Kerimov owns huge companies and controls the Nafta-Moscow Financial Group. His fortune is estimated at 6.3 billion US dollars.

Full text of the article is available on the Russian page of 24/7 Internet agency ‘Caucasian Knot’.