PREVIEW - US Court Set To Sentence Russian National Tinkov Friday For Lying To Tax Authorities

WASHINGTON (UrduPoint News / Sputnik - 29th October, 2021) The US District Court for the Northern District of California on Friday will hold a sentencing hearing for Russian businessman Oleg Tinkov after he pleaded guilty to lying to the United States' tax authorities.

The virtual hearing will be presided by Judge Jon Tigar and will start at 12:30 Pacific time (19:30 GMT) via Zoom.

In mid-October, Tinkov transferred a retribution payment of nearly $450 million to the US Internal Revenue Service (IRS) under a plea agreement with the Federal authorities.

"Receipt in the amount of $ 448,957,108.

00 from Oleg Tinkov; date receipt issued on 10/08/2021 via Fedwire," the court document said at the time.

On October 1, Tinkov pleaded guilty to lying to the IRS in 2019 about his net worth reported� on tax forms for tax year 2013 after relinquishing his US citizenship. The businessman agreed to pay the tax owed, statutory interest on the tax, liabilities for other years he acknowledged he owes as well as a penalty for fraud.

The US Justice Department has also recommended fining Tinkov additional $250,000 during the sentencing hearing that is scheduled to take place on October 29.