Georgia Man Pleads Guilty to Illegal Money Transfers Totaling $150 Million; Others Indicted in Related Scheme
In a significant development in the crackdown on illicit financial activities, Feliks Medvedev, a resident of Buford, Georgia, has admitted guilt to operating an unlicensed money transmitting business, having transferred over $150 million through U.S. bank accounts. Alongside this admission, Alexey Chubarov, Lev Solyannikov, and the KSK Group face indictment for their alleged involvement in the scheme, including conspiracy, operating an unlicensed money transmitting business, and multiple counts of money laundering.
The Department of Justice’s actions reflect a continued effort to enforce sanctions and economic measures imposed against Russia following its invasion of Ukraine. Attorney General Merrick B. Garland emphasized the commitment to disrupt illegal funding supporting the conflict, stating, “The Justice Department is more committed than ever to cutting off the flow of illegal funds that are fueling Putin’s war.”
Deputy Attorney General Lisa Monaco underscored the ongoing efforts to target criminal activity linked to Vladimir Putin and his associates, stating, “Over the last two years, our Task Force KleptoCapture has restrained, seized, and obtained judgments to forfeit nearly $700 million in assets from Russian enablers.”
U.S. Attorney Ryan K. Buchanan highlighted the severity of Medvedev’s actions, stating, “After fraudulently transferring and partly laundering over $150 million, Feliks Medvedev has pleaded guilty and will face severe consequences for his crimes.”
Keri Farley, Special Agent in Charge of FBI Atlanta, echoed Buchanan’s sentiments, warning those who attempt to undermine American financial institutions that they will be held accountable.
According to U.S. Attorney Buchanan, Medvedev registered eight companies in Georgia to facilitate the illegal transmission of funds, with a significant portion of the money being used to purchase gold bullion from the Singapore Precious Metals Exchange.
Chubarov, Solyannikov, and the KSK Group are alleged to have conspired with Medvedev in these activities, with Chubarov and Solyannikov directing Medvedev on outgoing transfers, including those to purchase gold bullion.
The case highlights the collaborative efforts of various agencies, with the investigation led by the Federal Bureau of Investigation. Medvedev’s sentencing is scheduled for May 7, 2024, before United States District Judge Thomas W. Thrash, Jr.
It’s essential to note that the indictment signifies charges, and the defendants are presumed innocent until proven guilty in a court of law.
