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Last Updated: Friday, 25 January 2008, 16:29 GMT
'Fraudster' is arrested in Russia
Photos of Semyon Mogilevich from the FBI website
Mr Mogilevich is wanted by the FBI since 2003
A businessman wanted in several countries for allegedly running an international fraud operation has been arrested in Moscow, officials say.

Semyon Mogilevich, aged 61, was held under the alias of Sergei Schneider in connection with a separate Russian investigation into tax evasion.

Mr Mogilevich - who has several nationalities - is also wanted in the US for allegedly defrauding investors.

Police in several other countries are also seeking to question him.

Mr Mogilevich was held on Thursday, along with several other people, police in Moscow said.

The arrest was made in connection with an investigation into an alleged tax evasion scheme by Russia's cosmetics retail chain Arbat Prestige, whose owner was also held.

The US charges stem from an indictment in 2003, in which Mr Mogilevich and an associate were accused of manipulating the stock of YBM Magnes Inc - a Pennsylvania-based company.

In 2005, Ukrainian officials said they were investigating the Ukrainian-born businessman's alleged connections to some companies involved in gas exports to the country.

Mr Mogilevich is believed to have lived in a number of countries for the past several years.

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