The Israeli businessman was found guilty of currency manipulation
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The Smolensk District Court of St. Petersburg found businessman Valery Izrailit guilty of illegal currency transactions and confiscated funds in the amount of more than 225 million rubles. However, he is exempt from punishment due to the expiration of the statute of limitations.
The case against the co-owner of the Ust-Luga port was initiated by the FSB in 2016. As one of the pieces of evidence, the FSB used the tax declaration submitted by the businessman under the capital amnesty law. Then he was arrested and spent more than three years in a pre-trial detention center, after which he was transferred to court under house arrest.
The court decided to sentence the Israeli to six years in prison, but to release him from the punishment due to the expiration of the statute of limitations and taking into account the time already spent in a pre-trial detention center and under house arrest.
The businessman himself pleaded not guilty and said that he would contest the verdict. “I am glad that this crazy epic is over, I have been waiting for a sentence for years, but I consider the sentence itself illegal and unfounded, I will appeal against it. In my opinion, there is no crime,” Interfax quotes him as saying.
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