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Category: Oligarches

Oligarches

February 11, 2024

EU Court Upholds Sanctions Against Alisher Usmanov and Igor Shuvalov Amid Ukraine Conflict

The sanctions against Russian Putin friends will not be lifted anytime soon. In a ruling on February 7, the European Union's judiciary maintained sanctions against the Russian-Uzbek oligarch Alisher Usmanov, rejecting his appeal to be struck from the EU's sanctions list. These sanctions were initially imposed on Usmanov, alongside other prominent Russian oligarchs and officials, in the wake of Russia's invasion of Ukraine in February 2022.

February 1, 2024

Worthwhile Reading: The Unmasking of America’s Oligarchs – A Deep Dive by Mother Jones!

Mother Jones peels back the layers on America's ultra-rich, shedding light on the modern-day oligarchs who wield their wealth with an iron grip on political power, challenging the notion that oligarchy is a term reserved for foreign shores. The report draws attention to the evolving lexicon used to describe the powerfully affluent, from "robber barons" of the 19th century to today's more sanitized "mega-donors."

Oligarches

February 1, 2024

Billionaire Roman Abramovich’s Frozen Funds Fiasco Sparks Outrage

In a scathing indictment of bureaucratic inertia, the House of Lords has laid bare the astonishing inaction of the UK government regarding the utilization of frozen assets from Roman Abramovich's high-profile sale of Chelsea Football Club. Abramovich, a billionaire with a diverse portfolio of citizenships and a net worth hovering around the $9 billion mark, was compelled to offload the prestigious football club in the wake of the Ukraine invasion.

February 1, 2024

Richest Russian Oligarch’s Divorce Case Stirs Legal Drama in the UK Supreme Court

In an unfolding saga that could potentially lead to the highest-value divorce settlement in English legal history, Vladimir Potanin, a Russian oligarch with an estimated net worth of $20 billion, has recently secured a victory in the Supreme Court against his ex-wife Natalia Potanina’s financial claims. This case highlights the complexities of international legal disputes and underscores the vast fortunes at stake in the divorce proceedings of the ultra-wealthy.

January 31, 2024

Jury Decided That Sotheby’s Did Not Facilitate Fraud Against Dmitry Rybolovlev

The auction house Sotheby’s was recently exonerated in a lawsuit filed by Russian billionaire Dmitry Rybolovlev. Rybolovlev had accused the prestigious auction house of complicity in a scheme that allegedly saw him overpaying for renowned artworks, including pieces by Leonardo da Vinci, Gustav Klimt, and others. A jury in a civil trial in New York decided in favor of Sotheby’s on Tuesday, rejecting a Russian oligarch’s claim.

January 24, 2024

Russian Oligarch Alisher Usmanov’s Legal Triumph Over Forbes Fake News!

A Definitive Ruling on Usmanov’s Alleged Ties to Putin As reported by FinCrime Observer, the Russian-Uzbek billionaire Alisher Usmanov secured an interesting court victory against..

Oligarches

January 22, 2024

Billionaire Dmitry Rybolovlev Considers Selling AS Monaco Stake Amidst Growing Interest

Dmitry Rybolovlev, the Russian billionaire, is reportedly contemplating the sale of his majority stake in the renowned AS Monaco football club. According to recent reports from the French newspaper Les Echos, Rybolovlev, who has resided outside of Russia for over a decade and is not subject to sanctions, received at least two purchase offers from American investors last year.

Oligarches

January 12, 2024

Russian Billionaire Dmitry Rybolovlev Accuses Sotheby’s of Aiding in Art Overpayment Scheme

In a legal battle unfolding in Manhattan, Russian billionaire Dmitry Rybolovlev has taken a significant stand against the prestigious auction house Sotheby’s. The owner of Monaco’s soccer team, Rybolovlev, known for his high-profile lifestyle, accuses Sotheby’s of complicity in a scheme that led him to overpay by millions for art pieces. This rare courtroom appearance marks a notable moment for a Russian oligarch seeking justice in a U.S. court.

December 22, 2023

EU Court Confirmed Sanctions Against Roman Abramovich And Dismissed His Lawsuit!

The Russian oligarch Roman Abramovich has lost a key legal battle against the EU, with the EU's general court upholding sanctions imposed on him following Russia's invasion of Ukraine. The sanctions, which came into effect in 2022, targeted close allies of Russian President Vladimir Putin, including the 57-year-old Abramovich. His lawsuit against the EU Council sought to reverse these punitive actions, arguing against their validity.

December 20, 2023

European Court of Justice To Decide On The Appeal Of Roman Abramovich!

In a closely watched legal battle, the European Court of Justice (ECJ) is set to deliver a ruling today regarding the appeal of billionaire Roman Abramovich against his inclusion on the EU’s sanctions list. This follows the EU's response to Russia’s invasion of Ukraine in 2022, which led to the sanctioning of various Russian officials, business leaders, and oligarchs, including Abramovich. Abramovich also appears in the UK’s sanctions list.

December 15, 2023

From FBI Hero to Zero: Ex-Special Agent’s Downfall in Russian Oligarch Scandal!

While the U.S. FBI sends agents to Cyprus to ensure compliance with the sanctions, its very own agents generate lucrative business from these sanctions. Charles McGonigal, 55, former Special Agent in Charge of the FBI Counterintelligence Division in New York, found himself on the wrong side of the law. McGonigal, once a top dog in the FBI, has been sentenced to 50 months in prison for conspiring to violate U.S. sanctions against Russia.

December 9, 2023

No Criminal Case: Russian Oligarch And Swiss Art Dealer Settle Billion-Dollar Feud!

The out-of-court settlement between Russian art collector Dmitry Rybolovlev and Swiss art dealer Yves Bouvier has concluded their extensive legal disputes across multiple jurisdictions. Rybolovlev had previously alleged that Bouvier defrauded him of over €1 billion by inflating art prices. On Dec 7, Geneva's public prosecutor, Yves Bertossa, announced the closure of the case, following the prosecutor's earlier advice to the parties to seek a settlement due to lack of evidence for a criminal case.N

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.

SEC Charges Market Manipulators in Crackdown on Crypto Asset Fraud

The U.S. SEC has charged three market makers and nine individuals for manipulating the crypto asset market, generating artificial trading volumes and misleading retail investors. The fraudulent schemes created the illusion of active markets, prompting unsuspecting investors to pour money into manipulated crypto assets. The DOJ filed criminal charges against the scheme operators in a parallel transaction.

U.S. DOJ Charges 18 Individuals and Entities in Global Crypto Fraud Crackdown!

The U.S. DOJ has charged 18 individuals and entities in an international operation targeting market manipulation and fraud in the crypto industry. The defendants, including market makers and token promoters, are accused of using wash trading and false trading activity to deceive retail investors and artificially inflate crypto prices. This is the first major criminal case of its kind in the crypto market.

Crypto Exchange Crypto.com Sues US SEC Over Regulatory Overreach!

Crypto.com, the Singapore-based crypto exchange with more than 100 million users, has filed a lawsuit against the SEC, challenging the regulator’s authority over crypto assets and accusing it of overstepping its jurisdiction. The lawsuit comes after a Wells notice was issued to the platform, signaling the SEC’s intent to take enforcement action.