A French court has concluded a legal agreement with a Swiss company accused of tax evasion on behalf of a Russian billionaire.
A French court announced Wednesday a financial agreement, accompanied by a fine, with a Swiss company prosecuted for having acted as a nominee and for having under-declared the purchase of a villa in Cap d’Antibes in the name from Russian billionaire Sulaiman Kerimov.
Swiru Holding AG was charged with conspiracy to evade tax on November 14, 2019. On the same day, the oligarch, charged with complicity in tax evasion committed in March 2019, was placed under the status of assisted witness.
The company “agreed to pay a public interest fine totaling 1.4 million euros,” said the Nice prosecutor’s office. It has also already paid more than 10.3 million euros to the French tax authorities via a subsidiary “for tax evaded”.
“The investigations revealed the concealment of part of the sale price of the said villa, by the interposition of companies domiciled in particular abroad, including the Swiss limited company Swiru Holding AG. The mode of operation has thus enabled the various parties to the sales contract to voluntarily conceal part of the sums subject to tax, “detailed the prosecution.