MOSCOW, July 3 (RAPSI) – The Moscow City Court has extended the detention of the criminal group members charged with illegally cashing around 36 billion rubles ($1.1 billion), Kommersant newspaper reported Thursday.

The group has been operating for over five years in the Moscow Region and other Russian regions. According to the ministry's department of economic crime and corruption, the group involved over 400 people.

The investigators discovered that the group used several commercial banks under its control and over 100 Russian and foreign firms in their scheme. The criminals transferred the clients' money to shell companies' accounts with its tame banks for cashing and subsequent transfer to accounts with Baltic and Cyprus banks. They legalized the money by buying property and charged a 2% commission for their services.

According to tentative estimates, their income from these illegal activities exceeded 575 million rubles ($17.3 million).

Earlier, the Tverskoy District Court in Moscow extended the detention of the alleged gang leader Sergei Magin and his accomplice Vadim Rybalchenko until July 5. Recently, the deadline for Magin’s confinement expired and only court could uphold the detention for more than a year. According to the newspaper, the defense of Magin will appeal the ruling.

Magin has been charged with illegal banking activity and organizing a criminal group. Six alleged accomplices have been also taken in custody.