When Dmitry Argarkov was sent a letter offering him a credit card, he found the rates not to his liking. But he didn't throw the contract away or shred it. Instead, the 42-year-old from Voronezh, Russia, scanned it into his computer, altered the terms and sent it back to Tinkoff Credit Systems.
Mr Argarkov's version of the contract contained a 0PC interest rate, no fees and no credit limit. Every time the bank failed to comply with the rules, he would fine them 3m rubles (£58,716). If Tinkoff tried to cancel the contract, it would have to pay him 6m rubles. Tinkoff apparently failed to read the amendments, signed the contract and sent Mr Argakov a credit card .

"The Bank confirmed its agreement to the client's terms and sent him a credit card and a copy of the approved application form," his lawyer Dmitry Mikhalevich told Kommersant . "The opened credit line was unlimited. He could afford to buy an island somewhere in Malaysia, and the bank would have to pay for it by law."
However, Tinkoff attempted to close the account due to overdue payments. It sued Mr Argakov for 45,000 rubles for fees and charges that were not in his altered version of the contract. Earlier this week a Russian judge ruled in Mr Argakov's favour. Tinkoff had signed the contract and was legally bound to it. Mr Argakov was only ordered to pay an outstanding balance of 19,000 rubles (£371).
"They signed the documents without looking. They said what usually their borrowers say in court: 'We have not read it',” said Mr Mikhalevich.
But now Mr Argakov has taken matters one step further. He is suing Tinkoff for 24m rubles for not honouring the contract and breaking the agreement.
Tinkoff has launched its own legal action, accusing Mr Argakov of fraud.

Oleg Tinkov, founder of the bank, tweeted: "Our lawyers think he is going to get not 24m, but really 4 years in prison for fraud. Now it's a matter of principle for @tcsbanktwitter."
The court will review Mr Argakov's case next month.

Source: http://www.telegraph.co.uk/finance/personalfinance/borrowing/creditcards/10231556/Man-who-created-own-credit-card-sues-bank-for-not-sticking-to-terms.html

Really interesting...
This time a bank is at the receiving end of not honouring an agreement. The hunter became the hunted.

kegel: Really interesting...
This time a bank is at the receiving end of not honouring an agreement. The hunter became the hunted.

Exactly The Hunter is now the hunted.

Sharp Russian...he invented his own agreement lol

HARDDON:

who is really at fault?

shouldnt the bank have re read the docs b4 signing just to be sure?

his argument would be that he made adjustments and forwarded it to the bank for consideration, which they did concur to.

hook on the neck .cant cough it out, cant swallow it.hehehe

~ZN~:
I presume there was some other phrase added to the fine print: "This Contract may not be altered by anyone but the Bank and any alteration not authorized by the Bank constitutes fraud."

If he had made the corrections visible or something with a note drawing their attention to the changes, he would probably be on solid ground. But he didn't - he scanned it into a computer and probably made the amendments look typographically like the original.

Anyways, this is quite a tricky one. I'll be following this to the latter. Not to mention, the owners probably have deep pockets and connections - typical russians.

What a fellow. I can imagine a lot of folks won't be doing business with him in future.

Power of booking a frontpage material...3rd to comment

Interesting....

Dat is good for the bank

Bush meat don catch hunter! Smart dude.

Tinkoff can't charge him for fraud oo! Well, a good prosecutor will make a good case for them.

This is probably without precedent. I wonder what the verdict would be.

Lol....... Now his name might be buzzing everywhere but nobody attached "419, scam, corruption, defraud, and the blah to it" but if my brother wey go malay go do am now, them go twist am........ Piss on you!

Can only βε seen in a developed country,not in 9ja. Lwkmd. Serves τ̲̅ђe Bank right. He has shown U̶̲̥̅̊ guys that he is τ̲̅ђe master of τ̲̅ђe game*Smh

hahaha sharp guy, but i doubt if he'll get away with it

Immediately I saw this topic, I knew it can never be in Nigeria.
If it had been in 9ja, the reverse would be the case.

sharp guy,dts d type i wl mary
*praying*

argakov should go to jail for forging a document.....if he tried this in america, he would get at least 300 years in a cold cell surrounded by serial räpists!

am really interested in d story....please keep us posted when it's revisited

Think the man name?...Tinkov...they should suspect he would thinkof something unusual! Think is best the bank pay him to scrap the contract.

eagle,eye:

Exactly The Hunter is now the hunted.

Or you meant bush meat don catch the hunter?

Sharp man.

BedLam: Lol....... Now his name might be buzzing everywhere but nobody attached "419, scam, corruption, defraud, and the blah to it" but if my brother wey go malay go do am now, them go twist am........ Piss on you!

Seriously, its a whiteman's business and so its smartness.

If he were a Nigerian, the president of the court will be involved in delivering the damning judgement to send the likes of Ibori to perpetual jaildom.

m.esther96:
sharp guy,dts d type i wl mary
*praying*

Look at this one...

Sharp guys dont marry dunces...

This appears to be "a battle of the form" in which the "last shot (Mr Argakov)" wins!!!

He shouldn't be intimidated. I assume he re wrote the agreement. Where is it in law that only the bank has the right to write or draw up agreements?

~ZN~:
He'll be lucky if he doesn't spend some time in jail, that's fraud.

Making the alterations without pointing them out is clear deception.

who is really at fault?

shouldnt the bank have re read the docs b4 signing just to be sure?

his argument would be that he made adjustments and forwarded it to the bank for consideration, which they did concur to.

hook on the neck .cant cough it out, cant swallow it.hehehe

A valuable lesson for all. Read thoroughly before signing anything.

okpara ugo:

Look at this one...

Sharp guys dont marry dunces...

dunces like ur sisters??


oponu

The man is a crook.

i just robbed a pot..

Never heard of this before.

Olastep1: BBA=APC

is this related to the topic
well. BBA=PORN