MOSCOW, April 28 (RAPSI) – Moscow police have arrested seven individuals suspected of nearly 500 million rubles ($7.7 million) under the pretense of providing brokerage service, RIA Novosti reported on Thursday.

According to the police, suspects have embezzled money from at least 3,000 Russian nationals and foreigners offering them to handle civil transactions at the international exchange market.

Cell phones, flash drives, bank cards, computers, laptops and documents material to investigation have been seized during searches conducted in Moscow, Moscow Region and Vladimir Region.

The men could face up to 10 years in prison if convicted.