Russian oligarch charged in France with tax fraud — prosecutor

PARIS, France — Russian billionaire Alexei Kuzmichev was charged Wednesday with tax fraud in France, the country's financial prosecutor said.

Kuzmichev, who is close to Russian President Vladimir Putin, was "placed under judicial supervision" and banned from leaving the country, according to the French National Financial Prosecutor's Office (PNF).

He also faces charges of concealing work with an organised crime group and on a presumption of money laundering.

Kuzmichev was obliged to pay a bond of eight million euros ($8.5 million). His lawyer refused to comment.

Kuzmichev, 61, was arrested in the French Riviera resort of Saint-Tropez, a source who asked not to be named told AFP late Monday.

Police carried out raids on several locations linked to the tycoon including his Paris home and his Saint-Tropez villa, they said.

Kuzmichev is one of the co-founders of the Alfa Group and is targeted by EU sanctions. 

According to the EU, Alfa Bank -- in which Kuzmichev holds a large stake -- is one of Russia's biggest taxpayers and the businessman himself is among "the most influential people in Russia" with close links to Putin. 

Two yachts worth more than five million euros owned by Kuzmichev were seized by the authorities in March 2022 as a result of the EU sanctions imposed following Russia's invasion of Ukraine, a source told AFP at the time.

The Russian billionaire, who claims to have family ties in France, launched an appeal to get the EU sanctions against him lifted, a source close to the case said.