March 15, 2012 - 17:07 AMT
U.S. citizen arrested in Russia over $4.5 mln fraud

A U.S. citizen has been detained in the Russian republic of Bashkiria over an attempt to defraud a local businessman of $4.5 million, Federal Security Service (FSB) spokeswoman Renata Remennikova said on Thursday, March 15.

According to RIA Novosti, Gennady Elchev, 60, was arrested together with his alleged cohort, Ramzan Vagapov, a 39-year-old resident of Chechnya.

Remennikova did not say when they were detained.

Elchev presented an ID showing him to be an advisor to the first deputy prime minister of the Republic of Chechnya.

The two men put up resistance during the arrest.

They are being held on fraud charges.