Novatek Director Mark Gyetvay Arrested in US on Tax Charges
September 24 2021 - 4:56AM
Dow Jones News
By Jaime Llinares Taboada
Novatek's director and former chief financial officer Mark
Gyetvay has been arrested in the U.S. accused of hiding money in
offshore accounts to avoid taxes, the Department of Justice said
Thursday.
The Florida businessman has been charged with not disclosing
offshore assets which at one point had an overall value of more
than $93 million, failing to pay taxes, and submitting false
information with the Internal Revenue Service.
According to the federal grand jury's indictment, Mr. Gyetvay
allegedly opened two different Swiss bank accounts from 2005 to
hold stock options or stock-based compensation which he received
after being appointed CFO of Novatek. He stepped down from the role
in 2014, but has been deputy chairman of the Russian gas company's
management board since 2010.
Mr. Gyetvay was scheduled for an initial court appearance on
Thursday before U.S. Magistrate Judge Douglas Frazier of the U.S.
District Court for the Middle District of Florida.
If convicted, he faces a lengthy prison service.
Novatek and Mr. Gyetvay didn't immediately respond to a request
for comment.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 24, 2021 04:41 ET (08:41 GMT)
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