The feds have reached a $ 5.9 million settlement with nearly a dozen companies involved with an infamous Russian tax fraud scheme, officials said Friday.
One of those 11 businesses — Prevezon Holdings Ltd. — will pay triple the amount of funds investigators traced back to the scam which the company used to invest in luxury Manhattan real estate, Acting U.S. Attorney Joon H. Kim said.
The 2007 refund scheme was organized by Russian criminals who swindled $ 230 million from the country’s treasury with the help of corrupt officials, the feds said.
The discovery and investigation of the missing funds was led by Sergei Magnitsky, a Russian lawyer who was later thrown in jail and died in custody.
An independent human rights investigation found that Magnitsky had been illegally arrested, beaten and denied medical care in jail.