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Evening Standard
Evening Standard
Business
Simon English

City watchdog opens probe into tax affairs of Wise founder Kristo Käärmann

Kristo Käärmann WISE FCA Taavet Hinrikus HMRC

Wise cofounder and CEO Kristo Kaarmann

(Picture: Wise)

THE trouble facing Kristo Käärmann, the billionaire co-founder of Wise, grew today when the City watchdog opened an investigation into his tax affairs.

The financial entrepreneur has been on the list of HMRC’s so-called “deliberate defaulters” since September 2021. He failed to pay a £720,000 bill for 2017-18 and was hit with a fine of £366,000.

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