$TCS And two additional blows to the stock - it also falling due to coronavirus sell-off and ruble devaluation caused by falling oil price.
So four blows to the stock - do they classify for a black swan event?
Matthew Cameron 07 Mar 2020, 19:17
$TCS double blow to Oleg Tinkov, founder and Chairman of BoD of Tinkoff Bank - 27 Feb it was announced that US IRS has an order for his arrest for tax evasion and 6 March he announced that he has been diagnosed with acute leukemia in October 2020. The stock is down 36% since its peak on Feb 11.
$TCS founder Oleg Tinkoff was about to be arrested in London, but was bailed for 20m GBP.
US IRS alleges him for under-reporting of tax. He was a US citizen up to 2013. #negative
Alex Douglas 05 Dec 2014, 20:52
$TCS interview with TCS CEO Oliver Hughes who is British. I find this interview very helpful to understand Tinkoff Bank fascinating business model.
Read for example this piece "We now have the largest courier networkin Russia, with 1,000 couriers covering 600 cities and can guarantee that we can get you set up with a card and a current account in two days, anywhere in Russia."
TCS Group Holding PLC, through its subsidiaries, engages in retail banking and insurance operations in the Russian Federation. It offers private customer current accounts; savings, deposits, and investment savings products; custody services; credit and debit cards; consumer loans; and mortgages, as well as e-wallets. The company also provides insurance products, including personal property, personal accident, travel, financial risks, and auto insurance products. It offers its products and services through Internet, mobile, telesales, direct mail, and direct sales agents channels. The company was formerly known as Egidaco Investments PLC and changed its name to TCS Group Holding PLC in September 2013. The company was founded in 1999 and is based in Limassol, Cyprus. TCS Group Holding PLC is a subsidiary of Tadek Holding & Finance S.A.