The fugitive head of the Russian Bobsled Federation has been detained in Monaco, the Russian Prosecutor-General's Office said on April 21.
Georgy Bedzhamov was a co-owner of Russia's Vneshprombank, which had its license revoked on January 21 by Russia's Central Bank.
Vneshprombank is Russia's 40th biggest bank in terms of assets.
Bedzhamov's sister, Larisa Markus, is the president of Vneshprombank and was arrested on December 22 on fraud charges.
Investigators say Bedzhamov played a part in some of Markus's fraud schemes.
Markus allegedly concluded loan agreements without intending to repay them.
The cost of the fraud is estimated at 932 million rubles (some $14.2 million).
In February, a court in Moscow issued arrest warrant for Bedzhamov and placed him on the international wanted list.
Based on reporting by TASS, Interfax, and Rapsinews