Russian Entrepreneur & Cyclist Released on Bail in the UK on Tax Fraud Charges

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Russian Entrepreneur & Cyclist Released on Bail in the UK on Tax Fraud Charges

Westminster Magistrates Court has released Russian entrepreneur and businessman, Mr Oleg Tinkov on bail while he fights extradition to the US on charges of failing to disclose income in his 2013 tax return.

Bail was set at GBP £20 million, with conditions such as electronic tagging, a curfew and surrender of his passport. US prosecutors have accused him of financial deception (specifically submitting a false tax return, under-reporting his 2013 income), and have issued a provisional arrest warrant.

Tinkov is an avid cycler, always vowing to make a return to professional cycling once Froome retires. “I’m waiting for the end of the Froome-age to get back in the peloton. However, one thing is certain: I will come back to win the Tour.” he told reporters. Those plans it looks like, for now, may have to wait.