One of Russia’s wealthiest businessmen, Vadim Mozhkovich, the founder of the company Rusagro, has been arrested on suspicion of “large-scale fraud.” With an estimated wealth of around $2.7 billion, Mozhkovich is among Russia’s richest businessmen. The trial against him took place at the Meshchansky court in the capital Moscow. Despite denying the accusations of large-scale fraud, Mozhkovich was sentenced to two months in detention. Following sanctions from Western countries, Mozhkovich had reduced his stake in Rusagro, one of Russia’s largest agricultural companies, to below 50%. Reports in the Russian media suggest that Mozhkovich is accused of committing fraud worth around 30 billion rubles (approximately $356 million) in the acquisition process of the company “Solnechnye Produkty.” As a result of these developments, shares of Rusagro traded on the Moscow Stock Exchange dropped by 19.5% yesterday and 14% today.