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Polyus shares sink on new tax fraud probe against Russian oligarch Kerimov

French prosecutors launched a new investigation into alleged tax fraud by Russian oligarch Suleiman Kerimov, whose family runs PJSC Polyus, after similar charges were dropped in 2018, London's Financial Times reported March 20.

Kerimov was detained in 2017 after being accused of being the ultimate beneficiary of certain shell companies' acquisition of several villas, including one worth more than €150 million.

A representative for Kerimov said lawyers are working to file an appeal to the accusation.

Polyus shares were down nearly 3% at the close of March 20 trading in Moscow.