Far-East Trading and Industrial Company, an importer of cryptocurrency mining equipment, is being examined by law enforcement officials in Russia.
Crypto news outlet CoinDesk reported that the miner importer is purported to have avoided up to $1.2 million in taxes on around 6,012 ASIC miners brought into Russia between August 2017 and February 2018.
According to a search warrant, the Moscow-based company (also known as DTPK) allegedly displayed misrepresented records to authorities all through this period, with the documents themselves showing erroneous item prices.
The company was also charged with dishonestly reporting to the customs service that it got the miners from MSR Co., a Korean company. The further examination uncovered that MSR Co. hadn’t made any trade with the Russian company.
Officers from the Russian Federal Customs Service led a raid of a few suspected DTPK business partners earlier this month. Intelion Mining, a firm that runs information centres that have miners, saw up to 2,500 of its ASICs confiscated by the authorities from areas in Moscow and Tula.
The case is the most recent in Russia’s initiatives to handle cryptocurrency miners who utilize hardware without legal documentation.