Yevgeny Dod, chairman of the board of directors for energy firm Quadra, has been detained by police in Moscow, the Vedomosti newspaper reported Wednesday.
The police also raided the company’s offices, Vedomosti reported, citing a company spokesperson. The newspaper reported that Dod was detained as part of an investigation being carried out by the Russian Investigative Committee.
Dod is allegedly suspected of fraud carried out in 2013 when Dod was CEO of the state-run hydroelectric power holding company RusHydro, the Legal Report news website claimed. The report alleges that Dod issued himself a bonus worth 307 million rubles ($4.7 million).
Dod was appointed as head of the Quadra board of directors in 2016. The company is part of the businessmen Mikhail Prokhorov's ONEXIM investment group, whose offices were also raided by Russia's Federal Security Service in April. Some media outlets linked the raids with the pressure on Prokhorov to sell his RBC media holding.