Nov 21, 2017

Russian billionaire arrested in France for tax evasion

Suleiman Kerimov. Photo: Alexander Zemlianichenko / AP

A Russian lawmaker and businessman with a net worth of $6.3 billion, was arrested in Nice, France, on Monday for connection to a tax evasion case, according to Reuters.

Why it matters: The investigation "centers on the purchase of several luxury residences on the French Riviera via shell companies," Reuters reports. Suleiman Kerimov's family controls Polyus, the largest gold producer in Russia. Since the Panama Papers, Kerimov's arrest is another example of someone losing the relative immunity he previously enjoyed, and being forced to face potential prosecution.

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