“Extradition can take months, and sometimes years”: what threatens Tinkov in a dispute with the tax USA

Oleg Tinkov was under the bail in London because of the claims of the American tax. What could he threaten?

Oleg Tinkov has serious problems due to the claims of the American tax-information about the presentation of an arrest and exit on bail of £ 20 million, which was distributed by the British tabloids on the weekend, today received official confirmation. Now Tinkova is waiting for a trial of extradition in the United States, during which he will have to remain under supervision in London under the conditions of collateral. What exactly was violated by Tinkov is still unknown, but the lawyers surveyed by The Bell, based on the amount of pledge, believe that the violation could be serious.

What's happened

• Information about the London Court of Oleg Tinkov with the American tax appeared on Friday, and at the weekend Daily Express tabloid, he said that an arrest warrant was discharged on Tinkov, and he was released on a bail of £ 20 million. This morning, information about the trial, the arrest and pledge was officially confirmed jar".
• According to the Daily Express, which also leads to the FT, referring to the court documents, Tinkov was detained in London in February according to the preliminary order discharged at the request of the American authorities that require his extraction in the United States. After the order was presented, the businessman was released on bail £ 20 million. The stir conditions suggest that Tinkov will be under surveillance using an electronic device, is obliged to remain in his London apartment from 19:00 to 7:00 and celebrated in the police department. He should not visit airports and other transport units and had to hand over all three passports that he had. The date of court hearings in the Tinkov case in London has not yet been scheduled, writes FT.
• Little is known about the claims of American tax authorities to Tinkov: as follows from the official message of TCS Group, IRS accuses the businessman who had previously had American citizenship of the Under-Reporting of Tax. On Friday, TCS Group reported that Tinkov has not been a US citizen since 2013. However, the record of this in the IRS register was dated 2017.
• Perhaps claims are related to tax non -payment for those who abandoned US citizenship, Partner Paragon Advice Group reasoned. When passing this procedure, all property of a wealthy “refuser” is considered to be sold at a market price a day before failure from citizenship. About $ 700,000 is subtracted from this amount. A tax of up to 23.8%is levied from the rest.

What threatens Tinkov

• In the situation with Tinkov, it is not known, the corpus delicti is concluded, nor what is the amount of claims - although usually it either exceeds the amount of the pledge or compare with it, says Zakharov.
• In the "Guide to Tax Crimes" IRS, the tax base is called the most common method of tax evasion. If it is really about tax evasion, then in the United States it can be punishable by a fine of up to $ 100,000 or a conclusion for up to five years. The sanctions depend on the corpus delicti and on which state of Tinkov want to be held accountable.
• The British court does not solve the issue of whether Tinkov committed a crime - only about his extradition in the United States, emphasizes FT. This process consists of several steps: the primary hearing, the main hearing about extradition, appeal, issuance - or refusal in it, is said on the British government website and in a bilateral extence agreement between the United States and Great Britain.
• During the initial hearing, the judge must confirm the personality of a person and set the date of hearing about extradition. Usually it occurs within 21 days from the moment of arrest. According to the Daily Express, Tinkov’s primary hearing took place last Thursday, February 27. It turns out that the hearing about extradition should take place until the end of March. On it, the judge must make sure that the violations described in the warrant may really be the basis for issuing. Almost always, judges want to make sure that the crime would be considered criminally punishable in the UK, the British government website said .
• It is possible to challenge the decision to issue in the High Court of Justice (High Court). The defense has a week to submit an appeal. If the defense side is unhappy with this decision, it can be challenged in the Supreme Court of Great Britain. After the final decision of the offender, they must be issued within 10 days.
• The issuance is quite possible, according to the professor of Law of MGIMO, Alexander Volivodz. Unlike most countries, in the UK, the legislation allows in some cases even its citizens, he notes. But the timing of extradition in the UK is not limited by any deadlines and can be very long, notes voluminous. “Extradition can take months and sometimes years,” the US Department of Justice says .

What am I to me?

If you bought TCS Group shares, nervous times have come for you: the papers of the Tinkoff Bank head company on the London Exchange since the first news on Friday fell by 10%. However, analysts surveyed by FT see in this story a possible reason for optimism. "Maybe TCS will be better without it?" - The rhetorical question is asked by the co -director of the BCS Global Markets shares department, Louis Saens, commenting on the theoretical opportunity that for calculations with IRS Tinkov will have to sell part of the package in the company.