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U.S. authorities have indicted a Russian man suspected of involvement in laundering $150 million, 65 million of which was used to illegally buy gold bars abroad.
On May 1, a federal grand jury charged 41-year-old Felix Medvedev, a resident of Buford, Georgia, with running a financial business without a license and making 1,300 illegal transactions totaling more than $150 million.
The FBI is investigating eight of Medvedev's companies in Georgia, through which he allegedly moved money abroad. His firms in the cities of Buford and Dakula have no expenses and no employees, which prosecutors believe are signs of money laundering.
"Medvedev allegedly illegally siphoned off more than $150 million through the U.S. banking system," said U.S. Attorney Ryan K. Buchanan. "Such violations pose a serious threat to the integrity of our financial system."
In March last year, the United States presented a draft law restricting any transactions related to Russian gold. The bipartisan bill prohibits all American citizens and companies from selling or buying gold from the Central Bank of the Russian Federation, as well as making transactions with those who trade or transport Russian gold.
The purpose of the bill is to prevent Russia from trading $130 billion worth of gold reserves on the international market in an attempt to circumvent the numerous Western sanctions that were imposed after the start of the full-scale invasion of Ukraine.
Gold is considered a safe asset because it retains value during periods of economic crisis. In 2018, Russia's gold reserves were estimated at 1,857 tons, which ranks fifth in the world.
The bill has not yet been voted on in the Senate, but last March, US President Joe Biden signed a decree banning gold transactions involving the Russian Central Bank.
"Money laundering has victims," FBI Special Agent Keri Farley commented on the case of Medvedev, who received charges on 39 counts. "The FBI is fighting money laundering and looking for those who are illegally moving money abroad right under our noses".
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Russian Felix Medvedev, accused by the US authorities of laundering about $ 150 million (12.5 billion rubles at the current exchange rate), appealed to the court with a petition to release him from custody.
"The defendant, a 42-year-old small business owner and father of two, whose wife is battling cancer and who has never been charged with any crime before, is asking the court to hold a hearing so that the defendant can demonstrate that he should be released on bail pending trial in this non-violent case," the filing said in federal court for the Northern District of Georgia. which RAPSI got acquainted with.
According to the US Department of Justice, Medvedev registered eight companies in 2019-2020, and in two years, a total of about $ 150 million was transferred through the accounts of these companies, of which more than 500 thousand were allegedly withheld by the Russian.
Medvedev allegedly used the U.S. banking system to illegally transfer more than $150 million. This kind of criminal activity poses a serious threat to the integrity of our financial system," said State Attorney Ryan Buchanan.
Meanwhile, the Russian's lawyer, Paul Kish, draws attention to the fact that the indictment nowhere says that the funds passed through the accounts of the companies were obtained as a result of illegal activities, except for the fact that Medvedev, obviously, did not have a state permit worth a little more than two thousand dollars to conduct transactions with funds. Even if part of the funds is somehow related to illegal activities, it is not that Medvedev was aware of it," the lawyer points out.
Nevertheless, the Russian was charged with 40 counts. He is charged, in particular, with violation of federal banking rules, conspiracy to launder money, involvement in offenses related to transactions with assets.
Medvedev, who appeared in court in April, refused to plead guilty.
----
The Federal Court for the Northern District of Georgia granted the petition of Russian Felix Medvedev, accused by the US authorities of laundering about $ 150 million (12.5 billion rubles at the current exchange rate), and decided to release him from custody on bail.
"Firstly, the bail must be secured by real estate located at 4920 Roaring Fork Pass Suwani 30024, as discussed at the preventive measure hearing presided over by Judge Vineyard on May 3, 2023, estimated at about 200 - 300 thousand dollars. Second, the defendant must surrender to the authorities all passports to which he has access. Thirdly, the spouse and children of the defendant must surrender all their passports. Neither the defendant, nor his wife or children can receive any passports or any travel documents", the court ruling, which was reviewed by RAPSI, says.
It also says that the location of the Russian will be tracked using electronic devices in accordance with the decision of the magistrate and supervisory authorities.
Finally, Medvedev is subject to other standard conditions of release from custody, including a ban on any contact with actual or potential witnesses in a criminal case against him.
----
Russian Felix Medvedev made a deal with American justice and agreed to plead guilty in the case of laundering about $ 150 million.
Medvedev, in particular, pleaded guilty to the first count of the indictment - the provision of money transfer services without an appropriate license. The verdict in the Federal Court for the Northern District of Georgia is due to take place on May 7, according to court materials.
----
Russian citizen Felix Medvedev, as a result of a deal with American justice, was sentenced to 3 years and 10 months in prison in the case of laundering about $ 150 million (approximately 12.5 billion rubles), according to the US Department of Justice. (October 2, 2024)
In addition, after serving his prison term, the Russian will be forced to serve another three years on parole, he will also pay a fine of 10 thousand dollars, the report specifies.
According to court documents and other information presented in court, Medvedev is a Russian citizen living in Buford, Georgia. He registered eight companies in this state, with the help of which more than 1.3 thousand transactions worth more than $ 150 million were carried out.
Presumably, the headquarters of the companies were in Buford and another city in Georgia, Dakula. However, these companies did not incur typical business expenses and did not have employees. Part of the proceeds from Medvedev was used to buy more than $65 million worth of gold bars abroad. The Russian also allegedly transferred millions of dollars abroad from several bank accounts in the United States.
As part of the conspiracy, Medvedev worked with an unnamed Russian company, for whose clients he made illegal money transfers.
Following Medvedev's indictment, on September 14, 2023, the U.S. Treasury Department's Office of Foreign Assets Control imposed sanctions on two of Medvedev's alleged accomplices: Russian citizen Alexei Chubarov and his company, KSK Group. In February 2024, Chubarov, the KSK group and Russian citizen Lev Solyannikov were separately charged in federal court for the Northern District of Georgia with collusion with Medvedev, the report said.
As RAPSI previously reported, the Russian, in particular, pleaded guilty to the first count of the indictment - the provision of money transfer services without an appropriate license.
Recall that the Russian was initially charged with 40 counts. In addition to conspiracy to launder money, he was also charged with violation of federal banking rules, involvement in offenses related to transactions with assets.
In June 2023, the court granted the Russian's request to change the measure of restraint.
The Russian's lawyer, Paul Kish, then drew attention to the fact that the indictment nowhere says that the funds passed through the accounts of the companies were obtained as a result of illegal activities, except for the fact that Medvedev, obviously, did not have a state permit worth a little more than two thousand dollars to conduct transactions with funds. Even if part of the funds is somehow related to illegal activities, it is not that Medvedev was aware of this, the lawyer pointed out.
On May 1, a federal grand jury charged 41-year-old Felix Medvedev, a resident of Buford, Georgia, with running a financial business without a license and making 1,300 illegal transactions totaling more than $150 million.
The FBI is investigating eight of Medvedev's companies in Georgia, through which he allegedly moved money abroad. His firms in the cities of Buford and Dakula have no expenses and no employees, which prosecutors believe are signs of money laundering.
"Medvedev allegedly illegally siphoned off more than $150 million through the U.S. banking system," said U.S. Attorney Ryan K. Buchanan. "Such violations pose a serious threat to the integrity of our financial system."
In March last year, the United States presented a draft law restricting any transactions related to Russian gold. The bipartisan bill prohibits all American citizens and companies from selling or buying gold from the Central Bank of the Russian Federation, as well as making transactions with those who trade or transport Russian gold.
The purpose of the bill is to prevent Russia from trading $130 billion worth of gold reserves on the international market in an attempt to circumvent the numerous Western sanctions that were imposed after the start of the full-scale invasion of Ukraine.
Gold is considered a safe asset because it retains value during periods of economic crisis. In 2018, Russia's gold reserves were estimated at 1,857 tons, which ranks fifth in the world.
The bill has not yet been voted on in the Senate, but last March, US President Joe Biden signed a decree banning gold transactions involving the Russian Central Bank.
"Money laundering has victims," FBI Special Agent Keri Farley commented on the case of Medvedev, who received charges on 39 counts. "The FBI is fighting money laundering and looking for those who are illegally moving money abroad right under our noses".
---
Russian Felix Medvedev, accused by the US authorities of laundering about $ 150 million (12.5 billion rubles at the current exchange rate), appealed to the court with a petition to release him from custody.
"The defendant, a 42-year-old small business owner and father of two, whose wife is battling cancer and who has never been charged with any crime before, is asking the court to hold a hearing so that the defendant can demonstrate that he should be released on bail pending trial in this non-violent case," the filing said in federal court for the Northern District of Georgia. which RAPSI got acquainted with.
According to the US Department of Justice, Medvedev registered eight companies in 2019-2020, and in two years, a total of about $ 150 million was transferred through the accounts of these companies, of which more than 500 thousand were allegedly withheld by the Russian.
Medvedev allegedly used the U.S. banking system to illegally transfer more than $150 million. This kind of criminal activity poses a serious threat to the integrity of our financial system," said State Attorney Ryan Buchanan.
Meanwhile, the Russian's lawyer, Paul Kish, draws attention to the fact that the indictment nowhere says that the funds passed through the accounts of the companies were obtained as a result of illegal activities, except for the fact that Medvedev, obviously, did not have a state permit worth a little more than two thousand dollars to conduct transactions with funds. Even if part of the funds is somehow related to illegal activities, it is not that Medvedev was aware of it," the lawyer points out.
Nevertheless, the Russian was charged with 40 counts. He is charged, in particular, with violation of federal banking rules, conspiracy to launder money, involvement in offenses related to transactions with assets.
Medvedev, who appeared in court in April, refused to plead guilty.
----
The Federal Court for the Northern District of Georgia granted the petition of Russian Felix Medvedev, accused by the US authorities of laundering about $ 150 million (12.5 billion rubles at the current exchange rate), and decided to release him from custody on bail.
"Firstly, the bail must be secured by real estate located at 4920 Roaring Fork Pass Suwani 30024, as discussed at the preventive measure hearing presided over by Judge Vineyard on May 3, 2023, estimated at about 200 - 300 thousand dollars. Second, the defendant must surrender to the authorities all passports to which he has access. Thirdly, the spouse and children of the defendant must surrender all their passports. Neither the defendant, nor his wife or children can receive any passports or any travel documents", the court ruling, which was reviewed by RAPSI, says.
It also says that the location of the Russian will be tracked using electronic devices in accordance with the decision of the magistrate and supervisory authorities.
Finally, Medvedev is subject to other standard conditions of release from custody, including a ban on any contact with actual or potential witnesses in a criminal case against him.
----
Russian Felix Medvedev made a deal with American justice and agreed to plead guilty in the case of laundering about $ 150 million.
Medvedev, in particular, pleaded guilty to the first count of the indictment - the provision of money transfer services without an appropriate license. The verdict in the Federal Court for the Northern District of Georgia is due to take place on May 7, according to court materials.
----
Russian citizen Felix Medvedev, as a result of a deal with American justice, was sentenced to 3 years and 10 months in prison in the case of laundering about $ 150 million (approximately 12.5 billion rubles), according to the US Department of Justice. (October 2, 2024)
In addition, after serving his prison term, the Russian will be forced to serve another three years on parole, he will also pay a fine of 10 thousand dollars, the report specifies.
According to court documents and other information presented in court, Medvedev is a Russian citizen living in Buford, Georgia. He registered eight companies in this state, with the help of which more than 1.3 thousand transactions worth more than $ 150 million were carried out.
Presumably, the headquarters of the companies were in Buford and another city in Georgia, Dakula. However, these companies did not incur typical business expenses and did not have employees. Part of the proceeds from Medvedev was used to buy more than $65 million worth of gold bars abroad. The Russian also allegedly transferred millions of dollars abroad from several bank accounts in the United States.
As part of the conspiracy, Medvedev worked with an unnamed Russian company, for whose clients he made illegal money transfers.
Following Medvedev's indictment, on September 14, 2023, the U.S. Treasury Department's Office of Foreign Assets Control imposed sanctions on two of Medvedev's alleged accomplices: Russian citizen Alexei Chubarov and his company, KSK Group. In February 2024, Chubarov, the KSK group and Russian citizen Lev Solyannikov were separately charged in federal court for the Northern District of Georgia with collusion with Medvedev, the report said.
As RAPSI previously reported, the Russian, in particular, pleaded guilty to the first count of the indictment - the provision of money transfer services without an appropriate license.
Recall that the Russian was initially charged with 40 counts. In addition to conspiracy to launder money, he was also charged with violation of federal banking rules, involvement in offenses related to transactions with assets.
In June 2023, the court granted the Russian's request to change the measure of restraint.
The Russian's lawyer, Paul Kish, then drew attention to the fact that the indictment nowhere says that the funds passed through the accounts of the companies were obtained as a result of illegal activities, except for the fact that Medvedev, obviously, did not have a state permit worth a little more than two thousand dollars to conduct transactions with funds. Even if part of the funds is somehow related to illegal activities, it is not that Medvedev was aware of this, the lawyer pointed out.
