A Russian court on Saturday released Israeli-Canadian citizen Joshua Cartu, who was arrested earlier this week at the request of the United States for alleged financial crimes.

The racing driver and entrepreneur, also known as the “Ferrari fugitive”, is accused along with his brothers of defrauding investors of millions of dollars.

He was arrested on Monday by Russia’s Interpol unit at Pulkovo airport in St. Petersburg after being declared “wanted” by the US.

The Moskovsky District Court of St. Petersburg has decided to terminate the “procedure” against Cartu. According to the court, the Russian authorities have not received an official extradition request.

Russia does not have an extradition treaty with the United States, but the countries carried out a major prisoner swap last month.

Earlier this week, a court ruled to keep him in custody because, as an Israeli citizen, he could travel freely outside Russia.

According to the press service of the St. Petersburg court, Cartu was placed under an Interpol Red Notice over allegations that he was part of a group that defrauded US investors of approximately $60 million between 2013 and 2017.

In 2021, the U.S. government filed a fraud complaint against Cartu and others, including his brothers David and Jonathan, for conspiracy to commit wire fraud.

Cartu’s social media accounts on Instagram and Facebook are followed by hundreds of thousands, and feature glossy images of a luxury lifestyle with race cars.

In interviews with British media, he described himself as a racing car and tech entrepreneur with his own fleet of Ferraris.

Canada’s Foreign Ministry said Tuesday it was “aware of an arrest of a Canadian in Russia” and had offered consular assistance.