US officials act: Russian gold magnate loses billion-dollar company

US officials are taking action
Russian gold magnate loses billion-dollar company

06/30/2022, 10:15 PM

Russian oligarch Kerimov is likely to lose his top spot on the list of the world’s richest people: US officials have seized a billion-dollar company that worked as a money laundering facility. The Gold Magnet has already got rid of his yacht.

America has frozen billions in assets of a Russian oligarch. US investigators handed over and seized Delaware-based company Heritage Trust to Russian billionaire Suleiman Kerimov, the Treasury Department said. The company is worth over a billion dollars.

According to the Treasury Department, the Heritage Trust, established in 2017, pumped money into the US through shell companies and low-profile foundations established in Europe. Kerimov has been on the US sanctions list since 2018 over allegations of money laundering and his ties to the Russian government.

Originally from the Russian Republic of Dagestan in the Caucasus, the billionaire became one of them richest people in the world Feather. Among other things, his family controls the gold producer Paulius. The Bloomberg Billionaires Index lists Kerimov as the 127th richest person in the world with a net worth of $13.3 billion.

Ferry fixed in Physique

A few weeks ago, the United States seized a yacht worth 300 million euros, which is said to belong to Kerimov. Authorities in the Fiji Islands arrested the ship at the request of the US and handed it over to Washington. Treasury Secretary Janet Yellen announced that sanctions would be enforced against Russia “even if the Russian elite hide behind proxies and complicated legal agreements”.

“The Russian elite and elite are probably the best in the world at hiding their wealth,” a senior US Treasury Department official who has been leading the way in enforcing the sanctions told the Washington Post. It is relatively easy to get hold of exposed luxury yachts, villas and private jets. However, it’s complicated to climb through the company’s nest behind which hides real wealth.