Following an inspection of UralTransBank by Sverdlovsk Region’s public prosecution authorities and their investigative committee, criminal proceedings were instituted against one of the bank’s executives. The accusations (of fraud) are based on Article 159 (part 4) of the Russian Federation Criminal Code, the spokesperson for the prosecution authorities reports. For one, the authorities believe that the director of Ural Transport Bank’s Nizhniy Tagil subsidiary Pavel Mukhachev transferred 95 million RUR worth of promissory notes to the former heads of Baranchinskiy Mechanical Plant Grigory

Sverdlovsk Region Arbitration Court sustained the claim laid by OAO AKB Rosbank against Uralvagonzavod Scientific & Production Enterprise. The defendant will now have to pay the plaintiff over 167 million RUR. The court proceedings were resumed after the results of the handwriting comparison had been received. The defendant insisted that its creditor’s claims were ungrounded because the date when the promissory notes for December 2008-April 2009 were signed and the signature of the company’s General Director couldn’t be authentic as the GD was allegedly away on business on that particular

Vladimir and Andrei Frolov have announced via a number of online forums that they are looking for some businesses willing to test their new e-banking product. The heads of a newly founded bank even insist that their testers have some experience of working with e-banking products (preferably Bank Severnaya Kazna’s Internet Bank) and use the product as both a business account administrator and a private individual. ‘We expect some constructive cooperation and a patient attitude towards the hypothetical glitches,’ a E1 forum user acting on behalf of Andrei Frolov says. Vladimir Frolov’s online