U.S. citizen Viktor Kaganov who emigrated from Russia has received a three-year suspended sentence for illegally transferring $170 million abroad.
Kaganov, a 69-year-old Oregon businessman who came to the United States in 1998, was brought to trial in March 2010 after he was discovered to have transferred the money to 50 countries via shell companies in 2002-09.
In line with local laws, Kaganov had to receive a special permission from local financial authorities and register it the U.S. Department of Treasury to transfer money abroad.
Kaganov pled guilty to the charges, avoiding a possible five-year suspended sentence and a fine of $250,000. His will be placed under house arrest for four months and obliged to provide information about all his bank accounts and savings to the authorities.
Kaganov’s lawyer Patrick Ehlers refused to comment on the case.
MOSCOW, June 8 (RIA Novosti)