MOSCOW, April 19 (RAPSI) – Moscow’s Basmanny District Court on Friday ordered house arrest for the majority stockholder of Russia’s Yugra bank Alexey Khotin suspected of 7.5-billion-ruble (about $120 million) embezzlement until June 18, a RAPSI correspondent reported from the courtroom.

Upon the court order, Khotin will be banned from leaving the place of his house arrest at night, from 10 pm to 6 am.

Investigators believe that the banker has been involved in embezzling the money from Yugra. The fact of the embezzlement is confirmed by the documents of Russia’s Central Bank, Deposit Insurance Agency and other evidence, according to the investigation.

A criminal case was launched against Khotin on April 18.

Yugra license was revoked in July 2017. At the time it was among Top-30 largest Russian banks. In October 2018, the bank was declared bankrupt upon the request of the Central Bank.

The bank was founded in 1990. Khotin held 52.5% of the bank’s shares.