The US authorities accused Russian banker, Oleg Tinkov, who was detained in London, in filing false tax information, he faces up to six years in prison, reported the Department of justice of the United States, RIA Novosti reported.
The indictment against Tinkov consists of two paragraphs, each of which he faces up to three years in prison. The banker also faces a “residence under surveillance”, it may be required to make restitution and pay fines.
“He also threatened to make under supervision, damages and monetary penalties,” — said in the message.
The indictment was filed in the Northern district of California in September of 2019, but opened it just now.
The indictment says Tinkov, received in 1996 a US citizen, founded the company TCS (Tinkoff Credit Systems), with headquarters in Russia. Until October 2013, he indirectly owned the majority of its shares through three structures in the British virgin Islands. As of October 27, 2013, according to the U.S. Department of justice, the market value of all shares at the disposal of the Russians amounted to over a billion dollars. The next day he came out of American citizenship.
In accordance with us law, all property released from the citizenship of the person with the condition more than two million dollars is treated as sold at fair market price the day before release (this is called a “constructive sale”), and all profits shall be taxable for that year, the document says. Thus, in the opinion of the tax authorities, Tinkov had to pay taxes on the entire amount, which was estimated he had shares.
The first paragraph of the indictment says that Tinkoff filed the wrong tax return in 2013 income for the year was listed at $ 205 thousand dollars, knowing that in fact it was higher.
“In his tax return for 2013 was not provided any profit or gain from a constructive sale of his property in connection with the renunciation of citizenship”, — said in the conclusion.
The second charge relates to financial information, which Tinkov has indicated in his application for renunciation of citizenship, where the applicant shall report on the taxes for five years prior to Expatriation. In it, he reported that at the time of the renunciation, his fortune was estimated at 300 thousand dollars.
“Anna knew his condition on the date of Expatriation was more than $ 300 thousand and that he had to submit the list of property and provide information relating to this property, the statement on renunciation of citizenship”, — the document says.
Last week it became known that the IRS has initiated against Tinkov court hearing in London. Monday, March 2, businessman posted bail after a warrant for his arrest. The company noted that it participates in the hearings as a private person.
Thursday, March 5, it became known that the British court ordered Tinkov to take Russian and a Cypriot passport.
As reported ForumDaily:
The representative of “Tinkoff Bank” said that the company self-reported information about the participation of Oleg Tinkov in court hearings initiated by the IRS, “for transparent implementation of all legal provisions relevant to public companies listed in London and Moscow.”
The company representative stressed that Oleg Tinkov is not a citizen of the United States in 2013.
Part of TCS Group Holding PLC consists of “Tinkoff Bank”, the virtual mobile operator “Tinkoff mobile”, “Tinkoff Insurance”, managing company “Tinkoff Capital”.
Oleg Tinkov founded the group TCS Group Holding PLC in 2006. Forbes estimated his fortune at 2019 at $2.2 billion According to the publication, Tinkov took 47th place in the rating “200 richest businessmen of Russia 2019”. At this place he dropped 43 positions in the top 200 richest Russian businessmen in 2018.