Oleg Tinkov Pleads Guilty to Tax Fraud, to Pay Over $500m: DOJ

TCS Group’s billionaire founder Oleg Tinkov pled guilty to tax fraud and agreed to pay more than $500m in taxes, interest and penalties, the U.S. Department of Justice said.

• Under a plea agreement, Tinkov agrees to pay no less than $506.8m, according to an emailed statement
• The parties have agreed to recommend a custodial sentence of time served, followed by one year of supervised release, and an additional fine of $250,000
• NOTE: Russian Billionaire Tinkov Agrees to Settle U.S. Tax Case: RBC

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Greg Chang in San Francisco at gchang1@bloomberg.net

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