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; @JaimeLlinaresT


(END) Dow Jones Newswires

September 24, 2021 04:41 ET (08:41 GMT)

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