Investigators are searching the Moscow office of leading Russian home electronics retailer, Eldorado, in a tax evasion probe, Investigative Committee spokesman Vladimir Markin said on Tuesday.
“The searches are part of a criminal probe into tax evasion of over 537 million rubles ($18 million),” Markin said, and adding that the case is being investigated by the Investigative Committee’s St. Petersburg Department.
Investigators suspect the managers of Telebalt, a Kaliningrad-based company, which assembles household electronics, including on orders from large retailers of tax evasion. They say Telebalt has created a whole network of shell companies for evading the value added tax and profit tax.
Telebalt supplied goods to Eldorado, and if found guilty, the managers may face up to six years in prison.
Eldorado said it was surprised about the searches and knew nothing about a criminal case opened almost a year ago.