Hedge fund alleges $230m tax scam
Hermitage Capital Management raises alarm bells on a possible tax rebate fraud worth $230m
Hermitage Capital Management has claimed that fraudsters have allegedly
stolen $230m (£115m) from the Russian tax authorities in a tax scam.
The scheme allegedly involved the forgery, impersonation and the theft of
three investment companies, according to Hermitage. The companies fraudulently
re-registered ownership of the companies before making false tax rebate claims,
the
FT reported.
Hermitage is now in the process of filing criminal complaints over the
affair.