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Rostov customs officers revealed violations of currency legislation of more than 3 million US dollars

Rostov customs, on the basis of inspections of compliance with currency legislation, regularly identify cases of non-repatriation of funds due for exported goods on a large and especially large scale.

For example, customs officials inspected a limited liability company that has entered into a foreign trade contract with a firm registered in the UK. The contract provides for the supply of non-ferrous metal products with a total value of 3.8 million US dollars.

The customs officers established that upon completion of the performance of the contract, the total amount of funds not credited to the organization’s account was 3.3 million US dollars. The contract of insurance of risks of non-performance by the non-resident of obligations under the contract was not concluded by the firm.

The resident urgently took measures to change its founder, chief executive officer and address (currently the organization is in the process of joining another legal entity in respect of which it was decided to remove it from the Unified State Register as invalid), which indicates its intention to evade responsibility.

On the basis of the audit materials transferred to the law enforcement units of the customs, criminal cases were initiated against the heads of the limited liability company under Articles 193 and 173.2 of the Criminal Code of the Russian Federation. Further investigative measures are being taken.

Reference. Article 173.2 of the Criminal Code of the Russian Federation provides for criminal liability for the illegal use of documents for the formation (creation, reorganization) of a legal entity. Article 193 of the Criminal Code establishes criminal liability for evading the obligation to repatriate funds in a foreign currency or the currency of the Russian Federation.

Press Office of Southern Customs Administration, tks.ru 9 July 2019