A man connected to Russian President Vladimir Putin was denied bail ahead of his pending federal trial in Massachusetts.

Vladislav Klyushin, a Russian businessman, faces charges related to insider trading and a hacking scheme. NBC News reported Monday he was denied bail by a federal judge in Massachusetts.

The 41-year-old sought to be released before his trial in Boston on a $2.5 million bond that included properties in Russia and the United Kingdom in addition to hiring private guards to see that he appears in court, according to NBC. 

However, Judge Marianne Bowler rejected his proposal, saying Klyushin had "absolutely no incentive to remain in this country,” the outlet reported.

"This court is not convinced that a defendant, who is an individual well-versed in sophisticated financial matters, has access to substantial financial resources and absolutely no ties to this country, will appear as required,” Bowler added.

The judge also said that the lack of an extradition treaty with Russia and complications involved with seizing the defendant’s London property should he leave the country were contributing factors in her decision to keep him detained, NBC noted. 

Klyushin, who U.S. officials say is close to Putin, was extradited to the U.S. from Switzerland in December. One of Klyushin's co-defendants involved in his case related to insider trading also faces charges surrounding election hacking in 2016, NBC noted. 

If convicted, some of Klyushin's charges could lead to maximum sentences of 20 years in prison.