Justice Department Targets Sanctioned Russian Oligarchs
TL/DR –
The US Department of Justice (DOJ) has announced a series of criminal and civil actions aimed at sanctioned Russian oligarchs and other individuals accused of supporting the Kremlin and its military. The announcement comes ahead of the two-year anniversary of Russia’s invasion of Ukraine, and the DOJ’s Task Force KleptoCapture has now brought about 70 criminal cases against individuals and five against corporate entities, while also working to seize around $700 million in assets. New cases include criminal charges against a pro-Russian Ukrainian oligarch accused of doing more than $300 million in business in violation of US sanctions, a civil forfeiture complaint against properties valued at approximately $2.5 million owned by sanctioned Russian oligarch Viktor Perevalov, and charges against another Russian oligarch and two US-based individuals accused of laundering money.
The Justice Department Targets Sanctioned Russian Oligarchs
The Justice Department announced a major enforcement action against sanctioned Russian oligarchs and their associates, aiming to disrupt Kremlin’s financial support system. This move, undertaken by the Justice Department’s Task Force KleptoCapture, comes on the cusp of the two-year anniversary of Russia’s invasion of Ukraine.
Task Force KleptoCapture: Swift Actions Against Russian Wealth
The task force, consisting of federal prosecutors, investigators, and analysts, has targeted the wealth network of Russian oligarchs and Kremlin insiders. In the past two years, the task force has instigated around 70 criminal cases against individuals and five against corporate entities, leading to worldwide arrests of over a dozen accused.
Seizure of Assets Worth $700 Million
The Justice Department’s task force has moved to seize approximately $700 million in assets, intended to be used as Ukraine aid or transferred to the country directly. Around $6 million has already been transferred to Ukraine, while the rest is under process.
Additional Sanctions Against Russia
The White House is also preparing to announce new sanctions against Russia in retaliation for their actions in Ukraine and for the death of opposition figure Alexey Navalny.
Enforcement Actions to Support Ukraine
The co-director of the task force, David Lim, expressed his belief that these enforcement actions demonstrate the department’s commitment to supporting the Ukrainian people.
Targeting Enablers of the Russian War Machine
Attorney General Merrick Garland also emphasized the department’s commitment to stopping the flow of illegal funds fuelling Putin’s war and holding enablers accountable.
Specific Legal Actions Against Oligarchs
Simultaneously, the Justice Department unveiled two cases from Florida, one involving criminal charges against a pro-Russian Ukrainian oligarch accused of violating US sanctions. The second case involves a civil forfeiture complaint against properties owned by sanctioned Russian oligarch Viktor Perevalov.
Charges Against Russian Oligarch for Money Laundering
In New York, charges were announced against Andrey Kostin, another sanctioned Russian oligarch, accused of laundering money to support two superyachts, concealing ownership of property, and attempting to evade US sanctions.
Additional Charges and Guilty Plea
Additional charges were brought against Vladislav Osipov, a dual Russian-Swiss national, for hiding yacht ownership in violation of US sanctions. In Georgia, Feliks Medvedev pleaded guilty to his role in a plot to launder over $150 million on behalf of Russian clients.
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