One of the wealthiest business individuals in Russia, founder of the company Rusagro, Vadim Mozhkovich, has been arrested. He was taken to court on suspicion of “large-scale fraud.” With an estimated fortune of around $2.7 billion, Mozhkovich, who is among Russia’s richest business people, faced trial at the Meshchansky court in the capital Moscow. Despite denying the allegations of large-scale fraud, Mozhkovich was sentenced to two months of detention by the court. The founder of Rusagro, one of Russia’s largest agricultural companies, had reduced his stake in the company to below 50% following sanctions from Western countries. Reports in the Russian media suggest that Mozhkovich is accused of committing fraud of about 30 billion rubles (approximately 356 million dollars) during the acquisition process of the company “Solnechny Produkti.” The shares of Rusagro, traded on the Moscow Stock Exchange, plummeted by 19.5% yesterday and 14% today following these developments.