Novatek Director Mark Gyetvay Arrested in US on Tax Charges -- Update
By Jaime Llinares Taboada
Mark Gyetvay, director and former chief financial officer of
Russian gas company Novatek, has been arrested in the U.S. on
alleged charges 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 the U.S. District Court for the Middle District of
Florida. If convicted, he faces a lengthy prison service.
Novatek said Friday that it hasn't received any official request
from the authorities of the U.S. or any other country regarding Mr.
Gyetvay, and that it will follow the case.
"The situation has not and will not have any effect on NOVATEK's
activities," the company said.
Mr. Gyetvay wasn't available to comment.
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(END) Dow Jones Newswires
September 24, 2021 06:14 ET (10:14 GMT)
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