Russian billionaire banker Tinkov battles extradition to the US on tax fraud charges – reports

Russian businessman Oleg Tinkov has posted bail in London and will remain in the UK for court hearings on allegations of underreporting his income. The US Internal Revenue Service is reportedly seeking his extradition.

“The hearings are taking place in London in February-April 2020. The case concerns resolution of potential tax issues,” TCS Group, the parent company of the Tinkov-owned Tinkoff Bank said in a statement released on the London Stock Exchange on Monday.

While the note did not disclose any further details on the case, earlier reports claimed that the banker paid £20 million (US$25.5 million) bail after US prosecutors issued a provisional warrant for his arrest.

Tinkov is reportedly accused of filing a false tax return and under-reporting his 2013 income in the United States. According to his company's statement, Tinkov has not been a US citizen for seven years.

RT has sent a request to confirm this information, but the Russian businessman’s official representative said that the group is not commenting on the issue at this time.

Oleg Tinkov is one of Russia's 50 richest businessmen, with a net worth of $2.4 billion, according to Forbes. He founded Tinkoff Bank in 2006, which has become one of the world's largest online banks, with over 10 million customers.

The 52-year-old billionaire has to stay in his flat from 7pm to 7am, he has surrendered his passports and is obliged to report to police three times a week, according to the Daily Express.

“Mr Oleg Tinkov is confident that it will be resolved as swiftly as possible,” the TCS Group noted, adding that the situation will not affect the Tinkoff Group’s operating companies, including its bank, insurance and mobile operations.

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