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 a scheme that would have allowed them to illegally acquire money belonging to the ‘Ural FD’ private pension fund under the guise of purchasing securities on the stock exchange. Ural FD
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