Compliance & Anti-Financial Crime
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Banking, Financial Crime, North America

Russian banker who renounced US citizenship to avoid huge tax bill hit with $500M penalty

By Dan Byrne for AMLi

A Russian-born banker who renounced his US citizenship to avoid paying tax has surrendered over $500M in penalties to the American government, it has been revealed.

It is part of a court sentence that also includes time served and one year of supervised release, the Department of Justice confirmed in a statement Friday.

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