Oleg Tinkov agrees to pay $507 mln of compensation in US case

WASHINGTON, Oct 4 (PRIME) -- Russian businessman Oleg Tinkov, the founder of TCS Group, which includes Tinkoff Bank, has agreed on a plea bargain with the U.S. justice and admitted his guilt in one of the episodes of infringement of the taxation legislation he was accused of, according to information obtained at the court by PRIME late on October 1.

Tinkov is to pay U.S. $506.8 million of compensation, according to the agreement.

The U.S. Department of Justice said that the Prosecutor’s Office has recommended an additional fine of $250,000, but will not require an additional jail term.

The court will deliver a verdict on October 29.

Earlier in October, Tinkov pled not guilty at a U.S. court hearing.

The U.S. Department of Justice has accused Tinkov of misrepresenting data in his tax declaration, and the businessman, who lives in London, can face three years in prison.

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