Novatek’s Gyetvay Released on $80 Million Bail in U.S. Case (1)

Novatek PJSC Deputy Chief Executive Officer Mark Gyetvay, whose arrest on U.S. tax charges hit the Russian gas producer’s share price, was released from custody Friday after agreeing to post an $80 million bail bond.

Gyetvay, 64, will be held under house arrest with GPS monitoring, and must surrender his passports, U.S. Magistrate Judge Douglas Frazier ruled at a brief hearing in federal court in Fort Myers, Florida.

After his arrest, the executive pleaded not guilty on Thursday to an indictment charging him with a decadelong tax evasion scheme. Prosecutors said he failed to report more than $40 million ...