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The article reports on the investigation being conducted by the tax division of the Moscow Chief Internal Affairs Administration. Several Russian companies who have links with the Hermitage Capital Investment Fund are being investigated for allegedly channeling their profits to their parent companies in Cyprus.

The article reports on the statement of the press service of the Russian Internal Affairs Ministry's Economic Security Department (ESD) concerning the exposure of a criminal organization which had operated in money laundering, funds illegal converting to cash and foreign currency abroad illegal transferring. The said ESD told that the organization controlled more than eight banks in Moscow, Russia and possessed ethnic and financial links with Georgian Diaspora members.

An excerpt from the article "The Banking System Is Too Crowded," by Yulia Chaikina and Svetlana Dementyeva in the June 5, 2007 issue of "Kommersant," is presented.

Reports negotiations under way to create a syndicate to extend credit to Gazprom, Russia's gas industry joint-stock company, for the purchase of Yuganskneftegaz. Banks as lead managers in the transaction; Short-term credit in the form of a bridge loan; Claim by Gazprom that no government guarantees were given for the loan.