WASHINGTON, Mar 6 (PRIME) -- The U.S. has charged Russian banker Oleg Tinkov for allegedly filing false tax reports, and the founder and shareholder of TCS Group may face a total of up to six years in prison, the U.S. Department of Justice said in a press release late Thursday.
“The founder of a Russian bank was arrested last week in London in connection with an indictment charging him with filing false tax returns,” the press release said.
Tinkov allegedly failed to report U.S. $1 billion in assets and income in his 2013 tax return with the Internal Revenue Service (IRS). The release said Tinkov falsely reported an income of less than $206,000 in his 2013 tax return and then falsely claimed a net worth of $300,000 in a 2013 Initial and Annual Expatriation Statement.
If convicted, Tinkov faces a maximum sentence of three years in prison on each count. He also faces a period of supervised release, restitution, and monetary penalties.
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