Pefume tycoon held on tax fraud claims
Vladimir Nekrasov, the sole owner of Arbat Prestige, was detained by around 50 police officers as he left a Moscow shop, his lawyer told Vesti 24 television.
Interfax is reporting Nekrasov is suspected of failing to pay $US 2 MLN worth of taxes in 2005 and 2006.
Last year, Arbat Prestige said it was planning an IPO for 2008, and valued itself at $US 1 BLN.
The cosmetics retailer had 64 stores in Russia in 2007.