Russian bank founder sentenced for evading exit tax upon renouncing U.S. citizenship
October 29, 2021 — The founder of a Russian bank was sentenced today for his felony conviction of filing a false tax return. As required under his plea agreement, prior to sentencing Oleg Tinkov, aka Oleg Tinkoff, paid $508,936,184, which is more than double the amount he sought to escape paying to the U.S. Treasury through renouncing his U.S. citizenship and concealing from the IRS large stock gains, which he knew were reportable.
Source: irs.gov