MOSCOW (Reuters) – Shares in Russia’s leading non-state producer Novatek fell on Friday following the arrest in the United States of deputy head Mark Gyetvay, seen as a key figure in the firm’s investor relations at a time of major expansion.

On Thursday, the U.S. Department of Justice announced that Gyetvay was arrested for tax related to $93 Million hidden in offshore accounts. The charges could lead to a severe prison sentence.

Novatek stated in a statement that it is trying to learn the details of his arrest and said it wouldn’t have any impact on its operations. Novatek shares dropped 1.4% during afternoon trade. This was lower than the 0.2% drop in overall markets. The shares fell by more than 4 percent at their opening.

Novatek’s voice has been Gyetvay, who anchors conference calls with investors. He also presents the company to major industry events.

His strategic planning has been a major part of the company and he is responsible for the firm’s excellent relationships with shareholders. In a note sent to clients, Russian VTB Bank stated that they expect a short-term negative stock reaction.

Gyetvay was born in New Jersey and moved to Russia as a PwC partner. Russian President Vladimir Putin gave him the Russian passport in 2019. This move could have been seen as helping the U.S. to bypass certain sanctions restrictions.

According to a Kremlin spokesperson, Russian diplomats are available to assist Gyetvay with legal issues in America.

Dmitry Peskov, speaking on a daily conference, said that the individual was also a Russian citizen. If I understood correctly, this means that he holds dual citizenship. Of course, we are interested to see his future and how it will affect the situation.

Novatek commissioned Yamal LNG, its first liquefied gas (LNG), plant in Arctic in 2017. This was in a direct challenge to Gazprom (MCX) which holds the exclusive right for Russian gas export via pipelines.

It also hopes to construct more LNG plants in Russia’s Arctic. The company is currently seeking funds in excess of 9 billion euro ($11 billion), which will be raised from Russian banks, Japan and China.

($1 = 0.8522 euros)