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. Last Updated: 07/27/2016

Court Sanctions RenCap Chief's Arrest

A Moscow court has sanctioned the arrest of Oleg Kiselyov, who reportedly resigned from the post of chairman of the Renaissance Capital amid allegations of fraud, Interfax said Friday.

Police and prosecutors have filed fraud charges against Kiselyov, who is overseas, in connection with the alleged attempted theft of shares in one of Russia's biggest iron-ore producers last year.

Kiselyov's arrest was sanctioned by Moscow's Tverskoi district court Thursday, and an international arrest warrant has been issued, his lawyer Alexander Asnis was quoted as telling Interfax. He said he would appeal the court's decision, the report said.

Kiselyov's lawyer was not available for comment Friday. A Tverskoi court spokeswoman refused to comment.

"This case has no relation to Renaissance Capital," a Renaissance Capital spokesman said. "This concerns Mr. Kiselyov only, in his private capacity."

Vedomosti reported earlier this month that investigators had targeted Kiselyov after a suspect in the case accused him of being involved in a failed attempt to block the purchase of shares in the Mikhailovsky mining company by two Russian metals tycoons. Kiselyov has denied any wrongdoing.