The US has frozen the assets of a Russian oligarch. US investigators have assigned and seized the Delaware-based Heritage Trust to Russian billionaire Suleiman Kerimov. Authorities have been targeting him for money laundering since 2018.
Founded in 2017, Heritage Trust has funneled money to the US through shell companies and nondescript foundations in Europe, according to the Treasury Department. Kerimov has been on US sanctions lists since 2018 over charges of money laundering and his ties to the Russian government. The company is worth more than a billion dollars.
Treasury Secretary Janet Yellen announced sanctions would be enforced against Russia “even as Russian elites hide behind proxies and complex legal arrangements”.
A few weeks ago, the United States seized a $325 million yacht allegedly belonging to Kerimov. Fiji authorities had arrested the ship at the request of the US and handed it over to Washington.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
