MOSCOW (Reuters) - A Russian court has ordered the arrest of Sergei Pugachev, owner of insolvent French luxury goods retailer Hediard, as part of a fraud investigation, Russian business daily Kommersant reported on Thursday.
The Moscow court acted on a request by Russia's Investigative Committee, which is looking into allegations of fraud involving IIB bank - known in Russian as Mezhprombank - the paper reported citing anonymous sources. Pugachev is a beneficial owner of IIB, which saw its banking licence revoked in 2010, according to Kommersant.
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