British regulators fines Wise co-founder $454,000 for failure to report tax filing issue

28 Oct 2024, 14:24 by Clyde Hughes · UPI

Oct. 28 (UPI) -- The billionaire co-founder of the money transfer firm Wise was hit with a $454,000 fine in Britain for failing to report an issue with his tax filings.

Wise's CEO Kristo Kaarmann was hit by the Financial Conduct Authority for failing notify it about him not paying capital gains taxes when he collected shares amounting to $12.98 million in 2017.