A Moscow court on Friday sentenced anti-Kremlin campaigner William Browder in absentia to nine years in a penal colony after convicting him of deliberate bankruptcy.
The Russian prosecutor general's office said on Friday that it will continue to ask Interpol for the extradition of Browder, who is based in London.
In addition to nine years in jail, Browder was also fined 200,000 roubles ($3,500) and barred from doing business in Russian Federation for three years, the Prosecutor General's Office said.
Russian investigators have established that between 1995 and 2007 Browder and Cherkasov, alongside unidentified others, planned and executed a tax evasion scheme in which they registered several joint stock companies in Russia with Cyprus-registered shareholders and started transferring profits overseas, disguising them as dividends.
The Russian Prosecutor General's office said in a statement that the tax evasion by Browder and co-defendant Ivan Cherkasov had caused some 3.4 billion roubles ($58.76 million) in damage to the Russian federal budget.
Cherkasov was sentenced to eight years in prison.
At the time Interpol refused to include Browder on its global search list after deciding that the tax evasion case against him was "of a predominantly political nature".
Browder, who founded Hermitage Capital, was Russia's largest portfolio investor until he fled the country in 2005.
The US-born British citizen has led a campaign in memory of his former employee Sergei Magnitsky, who went public with details of massive fraud by Russian state officials before dying in detention after spending 11 months in squalid prisons in 2009.
In 2013, a Moscow court tried Browder in absentia and tried Magnitsky posthumously on tax evasion charges.
In the US, the scandal took a completely different turn, and in December 2012 the US Senate passed the so-called Magnitsky Act - the regulation that imposes sanctions on Russian individuals and companies over alleged violations of human rights.
Browder was then found guilty and sentenced to nine years in absentia.