French Court: Suleiman Kerimov To Pay a US$ 47 Million Bail

A French judge on Thursday ordered Russian legislator and billionaire Suleiman Kerimov to post US$47 million in bail and relinquish his passport as part of an investigation into tax fraud and money laundering at Kerimov’s luxury properties on the French Riviera.

Suleiman Kerimov (Photo: Hlebushek, CC BY-SA 4.0)The investigation began after Kerimov’s arrest in Nice in November, as previously reported by OCCRP. At that point his bail was set at only $ 5.9 million, but prosecutors successfully argued for its increase, reported Radio Free Europe. According to Forbes, Kerimov is worth $6.2 billion and is Russia’s 21st wealthiest businessman. His family controls Russia’s largest gold producer, Polyus.

Reuters reported on Wednesday that Kerimov’s case is centered around allegations that he used shell companies to evade French taxes. Russian lawmaker, Rizvan Kurbanov, last month described Kerimov’s arrest as an “unprecedented demarche by

... read more at: https://www.occrp.org/en/27-ccwatch/cc-watch-briefs/7375-french-court-suleiman-kerimov-to-pay-a-us-47-million-bail

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