MOSCOW, March 27 (RAPSI, Alexei Afonsky) – Moscow's Simonovsky District Court on Friday extended until September 16 the house arrest of Vsevolod Glukhovtsev, a vice president at the Royal Bank of Scotland's Russian subsidiary, who stands accused of defrauding investors of more than 300 million rubles (about $5.3 million).

Glukhovtsev told investors that he was an influential banker and casino owner while using funds deposited on his accounts in Montenegro for personal purposes, according to a statement of the Interior Ministry.

He was arrested in April 2013 on charges of large-scale fraud.

The court first ruled to detain the banker. Later he was placed under house arrest.

A preliminary investigation revealed that Glukhovtsev had acquired expensive property in Moscow and abroad, luxury cars, art and jewelry, according to the statement. A search of his home and office also uncovered guns and munitions for which he failed to provide a license.