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MOSCOW, May 21 (Itar-Tass) - The searches at the office of the Finam investment holding have nothing to do with company operation, its president Vladislav Kochetkov told Itar-Tass on Tuesday.
Kochetkov said the investigators were looking into transactions of one of Finam clients. He said he knew nothing if the client in question had carried out any illegal financial operations.
"Not through Finam," he said noting that "it would be logical to search other companies which serviced the client."
He declined to name the person. "It's a natural person whose name will tell you nothing; he's not an oligarch; just an ordinary businessman above medium level."
The searches were conducted from 07:00 through 12:00, Moscow time, on Tuesday. Finam's work was not paralyzed, but police sealed off several storeys.
Finam began to service clients later than usual.
Kochetkov said the searches had been conducted correctly.
Founded in 1994, Finam provides broker's services on all the key world exchanges, as well as all kinds of banking services. It engages in Forex trade and trust management of funds.