Filipp Zolotnitsky, a spokesman for the city's police, said one of Moscow's units in charge fighting economic crime was tipped off about a group of fraudsters operating on the securities market.
He told Interfax that the fraudsters offered foreign companies their services for avalizing the promissory notes of leading Russian banks that the aforementioned organizations held.
"In exchange, the foreigners paid the fraudsters the market price of the promissory notes as of the date of the operation plus $50,000 allegedly for bribes for bank officials," he said.
"In fact, the fraudsters, having received the requested sum from the clients, gave them forged treaties on payment guarantees."
He added that four people were detained "red-handed outside the offices of one of the banks".