Not sure how the process would work. I can see him getting suspended without pay but still have contract years left once he gets released from prison. Then there's the whole deportation thing. Remember he's here on a work visa. The authorities could negate that and send him back to Russia. That would no doubt cancel his contract with the Kings. Don't even know if this is even addressed in the CBA.
I think if there is a chance of him being convicted of a felony, once his attorney see the evidence, they will plead it down. Then claim they would have won if it had gone to trial but the just wanted to get it behind him.
This could take months or years to resolve so it is best for the Kings if they Pronger his contract