MOSCOW, October 4 - RAPSI. The Moscow Tverskoy District Court has extended the detention of entrepreneur Viktor Baturin until November 7, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com). Baturin is accused of securities fraud in a case related to Inteco promissory notes.

Thus, the court has partially upheld the investigator's motion to request more time to draft the indictment and submit it to the prosecutor's office for approval.

The court found no grounds to reduce the conditions of custody to a 10 million ruble ($321,000) bail or a house arrest, as Baturin and his lawyers requested.

Baturin said in court that he is awaiting his trial, that he is not guilty and that he hopes he will be acquitted.

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 embezzlement of 10.8 million rubles ($346,680).

Baturin's case carries other charges involving the attempted theft of over 5.6 billion rubles ($180.01 million).

Baturin was arrested at Inteco's office on November 28 after arriving to cash a counterfeit 10.8 million ruble ($346,680) promissory note.

Baturin, who denies any wrong doing, faces up to 10 years in prison.