A spokeswoman for the Russian Interior Ministry's anti-organized crime unit says Mogilevich holds passports from several countries and has used 17 different aliases.
The arrest was made in connection with an investigation into an alleged tax evasion scheme by the owners of Arbat Prestige, a successful chain of Russian cosmetic stores.
Mogilevich is also wanted on U.S. charges stemming from a 2003 indictment in Philadelphia. He and an associate are accused of manipulating the stock of YBM Magnex, a company headquartered in Newtown, Bucks County.