26 Feb 2019 12:08

Baring Vostok case claimant accuses defendants of fraud

MOSCOW. Feb 26 (Interfax) - A representative of Vostochny Bank shareholder, Sherzod Yusupov, has told the court that employees of the Baring Vostok investment fund were involved in fraudulent operations and not entrepreneurial activity, an Interfax correspondent reported from the courtroom.

"The defense's arguments are far-fetched. Entrepreneurial activity means a lawful generation of profit. Fraud is not a legal way of generating profit," the banker's representative, Vladislav Teplyashin, said at Moscow City Court's hearing of the appeal against the arrest of Baring Vostok partner Vagan Abgaryan.

Abgaryan's lawyer, Artur Avanesyan, told the court that "the deal in the approval of which Abgaryan is implicated has an economic essence."

"The claimant himself admits that the activity Abgaryan is implicated in is of an entrepreneurial and economic nature," Avanesyan said.