Russian banker pays half a billion dollars to the US Treasury

Oleg Tinkoff is the founder of the bank of the same name in Russia.
Image: Reuters

The Russian Oleg Tinkoff evaded taxes in the US for years. Now he has to pay more than $ 500 million, but also escapes extradition. The businessman describes the punishment as a “humane solution”.

DHe well-known Russian businessman Oleg Tinkoff paid more than $ 500 million in compensation for deliberately incorrectly filed tax returns in the United States. That is more than double the tax money that the founder of the Russian Tinkoff Bank wanted to smuggle past the Treasury Department, said the US Department of Justice. The amount also includes a $ 100 million fraud penalty.

The 53-year-old businessman, who lives in Great Britain, will also be placed under supervision for a year. According to Russian media reports on Saturday, Tinkoff was grateful for the “humane solution” and regretted his offense.

Tinkoff, who was now a US citizen, filed tax returns in the US between 1996 and 2013, according to the US judiciary. He was arrested in the UK in 2020.

He defended himself against extradition to the USA with reference to a serious illness. According to Russian media, the US judiciary has counted Tinkoff on a prison sentence served in Great Britain and is now not pursuing his extradition.



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