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Major retailer's accountant, charged with $14 mln tax evasion, ignores court hearing

12:54 03/10/2011

MOSCOW, October 3 - RAPSI. The court postponed until October 7 its hearing of a criminal case against former Eldorado chief accountant Mikhail Advena, who was charged with $14.1 million corporate tax evasion, the Russian Legal Information Agency (RAPSI) reported from the court.

Eldorado is the Russia's largest retail chain selling household appliances and electronic devices. It operates over 600 stores.
Investigators said Mr. Advena along with other defendants in the case falsified Eldorado's tax returns.

Tax authorities inspected Eldorado between late 2006 and March 2011. Mass media earlier reported that Eldorado was suspected of tax evasion worth from 8 ($249 million) to 15 billion rubles ($467 million). The retailer said tax authorities claimed not more than 8 billion rubles in taxes. Meanwhile, Eldorado accused its vendors of being responsible for tax evasion.

The court delayed the case as Mr. Advena failed to attend the hearing.

His attorney's could not explain the reason of his absence. The Moscow court decided to detain the chief accountant on October 7 and to reconsider a measure of restraint for him at the next hearing.

Mr. Advena earlier denied the charges.

He may face up to six years in prison if convicted.

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Major retailer's accountant, charged with $14 mln tax evasion, ignores court hearing

12:54 03/10/2011 The court postponed until October 7 its hearing of a criminal case against former Eldorado chief accountant Mikhail Advena, who was charged with $14.1 million corporate tax evasion.
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