Gennady Barsky has left his role of president and vice chairman of the board at JetSmarter.
The fast growing business jet company has said it is “due to personal reasons unrelated to the company.”
Barsky was arrested in Broward County, Florida, last week on allegations of embezzlement.
In an email JetSmarter said: “We confirm that this matter is wholly unrelated to JetSmarter, and predates the founding of JetSmarter.”
Barsky was a manager – but not an investor – at a fund which had some financial difficulties. Earlier cases were dismissed.
In a statement the membership company said: “JetSmarter wishes Mr Barsky success in the future. As a company, JetSmarter will continue to revolutionize the private aviation business as the world’s greatest travel and lifestyle community.”