Oleg Tinkov to pay $500m after pleading guilty to US tax fraud

The Russian billionaire and former team owner pleaded guilty to filing a false tax return

Oleg Tinkov
(Image credit: Getty)

Oleg Tinkov, the former owner of WorldTour team Team Tinkoff-Saxo, has pleaded guilty to filing a false tax return in a 2013 US tax fraud case.

The 53-year-old Russian billionaire has agreed to pay more than £500 million, having hid $1 billion in assets and income after renouncing his US citizenship three days on from Tinkoff Credit Systems going public on the London Stock Exchange.

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Hi. I'm Cycling Weekly's Weekend Editor. I like writing offbeat features and eating too much bread when working out on the road at bike races.

Before joining Cycling Weekly I worked at The Tab and I've also written for Vice, Time Out, and worked freelance for The Telegraph (I know, but I needed the money at the time so let me live).

I also worked for ITV Cycling between 2011-2018 on their Tour de France and Vuelta a España coverage. Sometimes I'd be helping the producers make the programme and other times I'd be getting the lunches. Just in case you were wondering - Phil Liggett and Paul Sherwen had the same ham sandwich every day, it was great.