A former aide to ex-Russian President Boris Yeltsin has appeared in a U.S. court following his arrest on charges of accepting bribes.

Federal magistrate Viktor Pohorelsky on Thursday ordered Pavel Borodin, the former head of the Kremlin's huge property empire, to be held without bail until January 25. Borodin was detained at New York's JFK Airport under a warrant issued by Swiss authorities who accuse him of accepting a $60 million bribe -- charges he has strenuously denied. The U.S. State Department defended the arrest on Wednesday saying it was the country's "legal obligation." Borodin was suspected of taking bribes from two Swiss construction companies that won lucrative contracts to refurbish a number of state buildings, but the charges were never proven. Russian prosecutors announced in December they had dropped the investigation because there was no case to answer. Swiss authorities said they would continue. Outside the courthouse before Thursday's hearing, Russian Consul General Pavel Prokofiev said Borodin was prepared to go to Switzerland. Borodin was in the U.S. to attend the inauguration on Saturday of President-elect George W. Bush. Bernard Bertossa, Geneva's chief prosecutor, whose warrant led to Borodin's arrest, said the Russian was wanted in Switzerland for involvement in laundering $25 million.