Mechel OAO has warned about fraud operations possible through third parties’ illegally acting on behalf of its Mechel Service OOO sales subsidiary with no authorization for that. Third party’s sale of steel products based on fake documents using Mechel Service’ name was prevented on 22 March 2010. Fraudsters who presented themselves as official representatives of the company attempted to make a fake contract to deliver rolled products. The contract’s total value was more than 13 million rubles (approximately USD 440,000). They offered steel products at lower prices and on the terms of 100% prepayment. The fraudsters used fake letters of attorney and agency agreement to make the fake delivery contract where they specified their bank details in ProBank Moscow branch and effective post address of Mechel Service’ headquarters. Mechel’s corporate security service together with law-enforcement authorities are currently taking measures to bring the fraudsters to justice. Mechel Service asks its customers to be careful when making contracts for rolled products supplies and pays much attention to all events of fraud.
