Tinkoff shares hit by his extradition proceedings

RUSSIA / FSU POLITICS - In Brief 07 Mar 2020 by Alex Teddy
On March 6 shares in credit card supplier fell sharply because its owner Oleg Tinkov has been charged with fraud in the United States. Tinkoff is in London fighting extradition. Tinkoff Credit Systems Group (TCS) lost 17% on the London Stock Exchange and 24% in Moscow. Tinkov annouced that he is suffering from leukemia. The US alleges Tinkov hid USD 1 billion of wealth. He abjured American citizenship in 2013. He faces up to 6 years in prison if convicted.

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