Wise chief Kristo Kaarmann fined after defaulting on tax bill – The Times

Shares in Wise, the London-listed money transfer business, fell as much as 3 per cent today in the wake of the revelation that its chief executive Kristo Kaarmann had been fined for defaulting on his tax bill.

The naming of Kaarmann by HM Revenue and Customs raised questions about his fitness and properness to head an authorised financial institution as well as questions over whether it should have been disclosed in Wise’s flotation prospectus in July.

Kaarmann, 41, was charged with a penalty of £365,651.21 over £720,495 of unpaid taxes or duties in the year to April 2018, according to HMRC, which said he was “a deliberate tax defaulter”.

Fines of this sort are given to people found to have deliberately provided inaccurate documents

Leave a Reply

Your email address will not be published. Required fields are marked *