MOSCOW, September 3 - RAPSI. The Moscow City Court has dismissed a motion to release businessman Viktor Baturin on bail or to place him on house arrest. It has extended his arrest until October 7. Baturin is charged with fraud related to Inteco promissory notes, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com).

The defense motion claimed that the investigation had been completed and that Baturin is reading the case materials and is in no position to influence witnesses or to obstruct the collection of evidence.

"Baturin cannot do business, cannot pay his liabilities and cannot see his children while is behind bars," his defense attorney said. Baturin's health is also a cause for anxiety, he added.

Baturin is the older brother of business woman Yelena Baturina, the wife of former Moscow Mayor Yuri Luzhkov, and Russia's richest woman. Forbes ranked her as the world's third wealthiest woman in 2010 with a $2.9 billion fortune. Viktor and Yelena are the co-founders of the Inteco investment and construction corporation.

Baturin has been charged with attempted fraud involving Inteco promissory notes. He was earlier charged with the attempted theft of 10.8 million rubles ($341,670).

Baturin's case carries other charges involving the attempted theft of over 5.6 billion rubles ($177.16 million).

Baturin was arrested at Inteco's office on November 28 after arriving to cash a counterfeit 10.8 million ruble ($341,670) promissory note. Baturin denies any wrong doing.
He faces up to 10 years in prison.