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Court to consider appeal against Yevtushenkov's house arrest

September 22, 2014, 17:52 UTC+3 MOSCOW

Russian investigators accuse AFK Sistema chairman and owner Vladimir Yevtushenkov of involvement in a money-laundering scheme

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Vladimir Yevtushenkov

Vladimir Yevtushenkov

© ITAR-TASS/Grigory Sysoev

MOSCOW, September 22. /ITAR-TASS/. The Moscow City Court will consider an appeal against the arrest of AFK Sistema chairman and owner Vladimir Yevtushenkov on September 24, a court spokesperson said on Monday.

Billionaire Vladimir Yevtushenkov ranked by Forbes among Russia’s 20 richest people with an estimated fortune of $9 billion was placed under house arrest last week on suspicion of involvement in a case of illegal privatization of oil companies in the Urals Republic of Bashkortostan.

The oil firms privatized in Bashkortostan are now part of Bashneft, which is majority-controlled by Sistema, a Russian diversified holding company owned and managed by Yevtushenkov.

Russian investigators accuse Yevtushenkov of involvement in a money-laundering scheme, in which Sistema acquired Bashkortostan oil firms that had been privatized by Ural Rakhimov, a son of the republic’s former head, Murtaza Rakhimov.

Yevtushenkov has been placed under house arrest until November 16. If convicted, he may face up to seven years in prison.

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