U.S. Charges Businessmen For Helping Russian Oligarch To Hide Yacht Ownership

The U.S. Justice Department on Friday announced charges against Russian and British businessmen accused of helping a Russian oligarch Viktor Vekselberg hide his ownership of a luxury yacht in violation of sanctions, TURAN's Washington correspondent reports.

The two businessmen – Vladislav Osipov, 51, a Russian national, and Richard Masters, 52, a UK national, – were charged with conspiracy to defraud the United States and to commit offences against the U.S., violating the International Emergency Economic Powers Act, and money laundering, the Justice Department said in a statement.

Masters was arrested in Spain on Friday and will be extradited to the U.S, while Osipiv hasn't yet been arrested. According to the indictment, they also helped equip the luxury yacht with new internet, technology, weather forecasting, computing systems, satellite television and teleconferencing software – all from products made in the US.

Osipov, who worked for Vekselberg, allegedly hid Vekselberg’s ownership of the $90 million yacht using shell companies and conspiring to avoid US sanctions.

Vekselberg’s yacht was seized by Spanish law enforcement in April at the request of US officials, based on alleged money laundering, violations of sanctions statutes and bank fraud.

The seizure, conducted by DOJ’s Task force KleptoCapture, is one of the most recent moves by the U.S. to increase pressure on Russia's Vladimir Putin and his closest allies over his war in Ukraine.

“Corporations and executives have a choice: They can participate in the global effort to uproot corruption, sanctions violations and money laundering and enjoy the benefits of prompt and fulsome cooperation; or they can, as Osipov and Masters are alleged to have done, attempt to shield themselves and their clients behind a veil of fraud,” Andrew Adams, the task force’s director said in a statement.

“Facilitators of sanctions evasion enable the oligarchs supporting Vladimir Putin’s regime to flout U.S. law,” said U.S. Attorney Graves. “The United States will not allow its financial institutions and persons to be manipulated or defrauded for the purposes of benefiting those supporting an illegal war.”

Alex Raufoglu

Washington D.C.