BREAKING NEWS

BREAKING NEWS

Russian billionaire put under formal investigation in France

Now Reading:

Russian billionaire put under formal investigation in France

Text size Aa Aa

NICE, France (Reuters) – Billionaire Russian businessman Suleiman Kerimov was put under formal investigation on Wednesday in Nice in southern France on suspicions of laundering tax fraud proceeds, Nice prosecutor Jean-Michel Pretre said. Under France’s legal system, being formally placed under investigation often – but not always – leads to a person being sent to trial. French police arrested the 51-year-old businessman and lawmaker at Nice airport on Monday evening in connection with a tax evasion case. The prosecution requested that Kerimov be kept in custody and a decision by a judge was due in the night from Wednesday to Thursday. Earlier a French judicial source said investigators were focussing on the purchase of several luxury residences on the French Riviera via shell companies, something that could have enabled Kerimov to reduce taxes owed to the French state.

(Reporting by Matthias Galante; Writing by Leigh Thomas; Editing by Chris Reese)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.