The Russian billionaire who is believed to be close to funding the Nets' move to Brooklyn has a checked past.

Mikhail Prokhorov, who was recently named the 40th wealthiest man in the world by Forbes, was arrested in 2007 on suspicion he was involved in an upscale prostitution ring.

Prokhorov is reportedly close to issuing a $700 million bond through his investment firm, Onexim, that would help owner Bruce Ratner build the long-awaited Barclays Center in downtown Brooklyn.

The Russian helped finance CSKA Moscow at one point.