Biolink.Tech startup co-founder Ivan Degtyar has been charged with embezzlement and fraud. Mikhail Sverdlov, an independent director of product and digital transformation, published two court decisions, Russian and American, which decided to recover money from Degtyar in his favor.
According to Sverdlov, today Degtyar’s debt is $170,000. In 2021, the businessman decided to organize a logistics business in the United States and attracted Sverdlov as an investor. Then it was planned to release 4-5 trucks, but at the initial stage only 3 were purchased.
After that, due to the coronavirus pandemic, a logistical crisis began, which was followed by the first disagreements between partners. According to Sverdlov, the first inconsistency occurred when Degtyar bought a car not for $66,000, but on credit for $20. At the same time, the businessman told his partner that the purchase cost $78,000 and that he should invest $12,000 of his own funds.
It was not possible to buy a second car, because, according to Degtyar, he was deceived.
Sverdlov’s main claim is non-payment on his part. The terms of the partnership assumed the division of profits from 65% to 35% in favor of Sverdlov. Once the dividends offset the investment, the profits will be split 50/50.
However, Sverdlov, according to him, never received funds, since the business never began to make a profit. At the same time, Degtyar appointed himself a salary as a project manager of $4,000 to $7,000 per month.
“The cash gap was growing, and on top of that, I had to take the minimum money for my salary, since I was busy with a full-time business, which in turn increased the cash gap again and eventually caused a” waste and fraud”. claim of the “investor”, says Ivan Degtyar on his page on the social network.
At the same time, Mikhail Sverdlov emphasizes that there was no talk of salaries in the agreements. Furthermore, in addition to the initial debt of $158,000, about a year ago Degtyar took another $9.5,000 as personal debt, promising to repay it in April 2022.
According to the businessman himself, he has repeatedly expressed his readiness to issue a debt on himself against a promissory note, but this proposal did not receive the support of the partner.
Sverdlov, in turn, claims that his numerous attempts to settle the claims without trial through negotiations were unsuccessful. In the end, he turned to the Russian and American courts.
The Maikopsky District Court satisfied the demand for recovery of 8.9 million rubles in favor of Sverdlov. The decision was made on February 28 of this year. Last week, a Florida court concluded that it had decided to recover $161.8 thousand in favor of Sverdlov at 6.58% annual interest.
“On June 5, the first payment in a week is due. Otherwise, I will be forced to turn to the police to criminalize this case and involve the proper authorities to protect my interests and the interests of other victims,” Sverdlov concluded.
He claims that other investors also suffered from the actions of the former partner.
In 2020, the startup of Ivan Degtyar and Evgeny Chereshnev Biolink.Tech raised about 33.2 million rubles from Azbuka Vkusa. The company has developed a nutritional customization system based on Otri’s blood tests.
Author:
Natalia Gormaleva
Source: RB
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