As Kommerstand found out, in Geneva, a fraud investigation on loans was completed; its defendants were the Russian businessmen. According to the local law enforcement officers, Swiss company Nori SA specializing in metal sales, which is owned by Pyotr Terebov, took unsecured loans for almost $ 25 million from the local banks. The businessman received the loans, among other, on guarantee of the supply of the goods from Rostov steel plant, headed by ex-deputy of the State Duma of the Russian Federation, Vadim Varshavsky. The latter told Kommersant that the Russians accused of fraud used fake contracts with the plant, which had previously really cooperated with Nori SA. Meanwhile, the verdict on the case will be put under a simplified procedure, since the defendants admitted their guilt. 

As Kommersant was informed in the Ministry of Justice of Switzerland, the investigation against the accused persons had been completed and the case would soon be sent to court. However, the ministry spokesman Henri Della Casa refused to name the defendants. According to some reports, the defendants fully admitted their guilt, so their case will be considered under the simplified procedure (an analogue of the Russian special order). They were not taken to custody, and during the process, the defendants "were free in their movements." According to local legislation, the Russians face up to five years in prison. Meanwhile, on the demand of creditors a villa in the suburbs of Geneva, belonging to one of the accused persons, has been put up for sale. From 2 million to 3 million Swiss francs will be received upon its sale.

The investigation against Swiss company Nori SA, the owner of which is Pyotr Terebov, began in the autumn of 2014. According to some reports, the reason for this was an appeal to the police from Banque de Commerce et de Placements SA; the Russian's company owed the bank more than $ 2.8 million. After August 27, 2015 by the decision of the Swiss court Nori SA was declared bankrupt, and  the number of victims in the case increased rapidly. Now, according to Swiss media, eight local banks emerged in the lawsuit; in total, Nori SA owes them almost $25 million.

As the Swiss law enforcement found out, Nori SA was registered in the country in 2010, and the only signature manager was Pyotr Terebov. The company specialized in the sale of scrap metal that came from the Rostov region, and then resold it to other countries. To have money for the purchase of scrap, Nori SA took loans from Swiss banks. However, in 2014, payments on loans first became irregular, and then completely stopped.

As it turned out, the Swiss banks issued loans under the guarantee of the supply of the goods from Rostov steel plant (REMZ), headed by the ex-deputy of the State Duma of the Russian Federation, the former owner of the Estar group of companies, Vadim Varshavsky. In Geneva, according to local media, "the corrupt local staff of the Swiss certification company gave reports confirming large lots of metals in Rostov"

Representative of Vadim Varshavsky, Andrey Zhvan, told Kommersant that about the fraudulent actions of the Russians in Switzerland, they learned from representatives of the Banque de Commerce et de Placements SA. The bank first sued Nori SA to the Arbitration Court of Rostov region, in which respondent was also REMZ, but then withdrew it, initiating criminal prosecution of the debtor in Switzerland. In the course of communication between the bank and representatives of REMZ, according to Mr. Zhvania, it was found out that in order to obtain a loan, the representatives of Nori SA company sent to Banque de Commerce et de Placements SA the copies of documents that the plant had allegedly shipped steel billets for storage in OAO Rostov port.  Along with these documents, said Mr. Zhvania, there was a fictitious report of inspection of products in the port. The arbitr.ru database mentions the claims against Nori SA in Russia in similar circumstances from Economy Bank N.V., to which the Swiss company owes about $2.8 million.

Vadim Varshavsky confirmed to Kommersant that REMZ previously actually did business with Nori SA and supplied steel to the company. This businessman said that he didn't know Pyotr Terebov: "He was one of many who bought our metal." Nevertheless, the Swiss press, referring to the local law enforcement agency, believes Vadim Varshavsky could still be aware of the history with credit. Note that Pyotr Terebov allegedly refused to talk about his relations with Vadim Varshavsky during the interrogation. 

It remains to add that a certain business partner emerged in the lawsuit together with Terebov. According to Kommerstant's source, it is possible that it could be a long-time business partner of Pyotr Terebov, certain Vyacheslav Beloborodov. In any case, it was he who, together with Terebov, was the provider of surety for the obligations of Nori SA to Swiss banks. Earlier Beloborodov was part of top management of Estar GC owned by Vadim Varshavsky (in particular, the general director of LLC TD Estar in 2008-2009), and now is a member of the Legislative Assembly of the Rostov region. Head of Information Policy of the Legislative Assembly Management, Gennady Gordeyev, told Kommersant that Vyacheslav Beloborodov took part in the meeting of the Regional Parliament on 22 December 2016. According to Mr. Gordeyev, deputy is a member of two committees: on the budget and economic policy, and actively participates in the work of Parliament. However, this year's first session of the Legislative Assembly is scheduled for February, so the factions and committees' work has not yet started. Colleagues of Vyacheslav Beloborodov told Kommersant that they had no contacts with him and knew nothing about his possible problems in Switzerland.

Note also that in Russia Terebov and Beloborodov own JSC Donelektrostal, LLC Donlom, JSC Millerovo Metallurgical Equipment Plant as well as the Rostov company Kulibin Brand, which designed a logo for Nori SA.

Recall that a defendant in a criminal case in Russia was also Vadim Varshavsky himself. As has already been mentioned by Kommersant, at the end of last year there was a search in the businessman's entities in connection with the criminal case on theft pf almost 2.8 billion rubles from Petrocommerce Bank (part of FK Otkrytiye). The money was received in 2012 as a loan from Zlatoust Metallurgical Plant, which, according to investigators, was owned by Vadim Varshavsky at the time. He himself rejected all accusations.