Ex-CEO of major Russian investment group accused of fraud

A former president of the AFK Sistema conglomerate has been placed under house arrest for two months

A Moscow court has placed a former president of the AFK Sistema investment company, Evgeny Novitsky, under house arrest until August 20. He has been accused of large-scale fraud involving an alleged attempt to steal money from a now-defunct private pension fund.

According to investigators, Novitsky, together with accomplices, devised...