According to the indictment of the U.S. Department of Justice:
- Beginning in 2005, Gyetvay allegedly opened the 1st of 2 different Swiss bank accounts to hold these assets, which at one point had an aggregate value of over $93 million.
- Over a period of several years, Gyetvay allegedly took steps to conceal his ownership and control over the foreign accounts and associated assets, such as removing himself and making his then-wife, a Russian citizen, the beneficial owner of the accounts
- Despite being a CPA, Gyetvay also allegedly did not timely file his U.S. tax returns
- Further, some of the tax returns he did file are allegedly false
- The indictment also alleges that Gyetvay submitted a false offshore compliance filing with the IRS through the Streamlined Filing Compliance Procedures in which he attested that his prior failure to file FBARs and tax returns was non-willful
NOVATEK said in a statement today that it had yet to receive any official notification or requests from the U.S. government on the case.
The company stated:
- We are not involved in the litigation and does not have any details of the court hearings, we monitor the situation and will give all necessary support.
- For many years, Mark Gyetvay is the main representative of NOVATEK for professional and investment community, making invaluable contribution to NOVATEK success.
- The situation has absolutely no effect on NOVATEK’s operational and financial activities.