US Court Agrees to Accept Russian Banker Tinkov's Payment as Retribution to IRS - Document
© AP Photo / Sang TanFILE - In this file photo taken on Friday, May 28, 2010, Team owner Oleg Tinkov speaks to the media during a Tinkoff-Saxo cycling team press conference in London. Less obvious names on the list include Sergei Galitsky, founder of retail chain Magnit, and Arkady Volozh, founder and CEO of the search engine Yandex, and bankers Oleg Tinkov and Ruben Vardanyan.
© AP Photo / Sang Tan
WASHINGTON, October 6 (Sputnik) - The US District Court for the Northern District of California has agreed to accept a payment of $448.9 million from Russian banker Oleg Tinkov as retribution to the Internal Revenue Service, a court filing revealed on Wednesday.
"The court, having considered the Stipulation Regarding Payment of Criminal Monetary Penalties, which arises from the plea agreement entered in this case, the Stipulation having been executed by the United States and defendant’s counsel, and good cause appearing, hereby ORDERS as follows: The Stipulation is approved," the document, signed by Judge Jon Tigar, read.
The court’s clerk directed to accept the payment and forward it to the IRS, the document added.
Tinkov will appear before the court on October 29 to be sentenced after pleading guilty to one charge of lying to the US tax authorities under the plea agreement.
The latest in the case emerged after Tinkov was accused by US authorities of having allegedly concealed $1 billion in assets when he renounced his American citizenship. He had earlier been arrested in London.