Monday, October 18, 2021

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    U.S. arrests financial officer of Russian natural gas group Novatek

    Newsletter: Europe Express

    The United States has arrested one of Russia’s most influential executives in the natural gas industry on suspicion of tax illegal activity related to tens of millions of dollars held in offshore accounts.

    Ministry of Justice statement On Thursday, Novatec Chief Financial Officer Mark Gietbay plans to scam the United States by hiding ownership and control of “substantial offshore assets,” which at one point were worth more than $ 93 million. Said that he had set up. He also filed for millions of dollars in income and was accused of not paying taxes.

    Between 2005 and 2016, Gyetvay set “favorable” stock options or stock-linked compensation from “a major Russian gas company” in two Swiss bank accounts, according to a complaint returned by a federal grand jury. It is said that it was done.

    Authorities accused him of trying to hide ownership of the account through tactics such as making the then Russian wife a de facto owner. According to the Justice Department, he also did not file a U.S. tax return on time, or filed a false filing to hide fraud, despite being a certified accountant with work experience in the United States and Russia. It is said that it was submitted.

    Gyetvay, a US citizen, has held a Russian passport since 2019. He did not immediately respond to the request for comment.

    He participated Novatek As a CFO and a member of the board of directors in 2003, he helped Russia’s top independent gas producers turn into one of the country’s leading liquefied natural gas processors and exporters in 15 years.

    Novatek is associated with its largest shareholder, billionaire Leonid Mikhelson, and Gennady Timchenko, a longtime friend of Russian President Vladimir Putin.

    Gyetvay as Vice-Chair board of directors Since 2010, the company has started operating a flagship store Yamaru LNG In 2017, we implemented a project in the Russian Arctic Circle, attracting large-scale investment from France and China.The company Second LNG plant, Arctic LNG 2, under construction, third in planning phase.

    Yamal LNG counts France’s TotalEnergies, China National Petroleum Corporation, and China’s Silk Road Fund as investors. Together, these investors own nearly 50% of the shares. Arctic LNG 2 is backed by Chinese, Japanese and French investors who have already made significant investments in the project.

    Gyetvay is considered one of Russia’s most popular executives and has been ranked as the top CFO of the oil and gas sector in Russia and Europe by various publications.

    His first appearance was scheduled for Thursday in Florida. If convicted in all respects, he faces the prospect of imprisonment for decades.

    U.S. arrests financial officer of Russian natural gas group Novatek

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    The post U.S. arrests financial officer of Russian natural gas group Novatek appeared first on Eminetra.

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