Latest news with #Kerimov
Los Angeles Times
3 days ago
- Business
- Los Angeles Times
Russian superyacht, with helideck and marble fireplace, was seized. Now you can bid on it
The Russian oligarch billionaire lifestyle can be yours for the potentially low, low price of tens of millions of dollars, courtesy of the U.S. federal government. The National Maritime Services, working on behalf of the U.S. Marshals Service, is auctioning off a superyacht, the $300-million-plus Amadea, which currently sits in a San Diego harbor, with a bid deposit starting at $10 million. Florida-based Fraser Yachts, the auction's promotional agents, described the prize 'as one of the most comprehensively equipped yachts in her class.' The 348-foot-long ship was built in 2017 and can comfortably host 16 guests in eight luxurious staterooms. An additional 21 cabins can house a professional crew of up to 36 workers. One of the ship's jewels is a glass elevator that serves all decks, while a second lift is available for crew. The yacht includes a glass-edged mosaic pool with submerged bar stools, and an outdoor bar area surrounded by sun pads (cushioned areas for perfecting your tan). The ship's main salon showcases a piano and marble fireplace. The yacht was designed by Espen Øino, the acclaimed Norwegian designer and naval architect, while its decadent interiors were created by designer François Zuretti. The ship has an ocean-crossing range of 8,000 nautical miles at a speed of 13 knots. For late-arriving quests, the Amadea also boasts a helideck. The U.S. Justice Department maintained in a 2023 civil forfeiture complaint that Russian oligarch Suleiman Kerimov was the ship's owner. Kerimov took possession of the vessel sometime around 2021, though his transactions were cloaked through shell companies, according to the complaint. Kerimov was sanctioned by the U.S. in 2018 and labeled a Specially Designated National for his alleged role in money laundering related to the purchase of French villas. The U.S. Department of the Treasury's Office of Foreign Assets Control determined Kerimov was a direct beneficiary of Russian President Vladimir Putin and 'played a key role in advancing Russia's malign activities,' which includes the invasion of Ukraine. The U.S. has said it's working with allies to put pressure on Russian oligarchs, some of whom are close to Putin and have had their yachts seized, to try to compel him to stop the war, the Associated Press reports. The Amadea was seized in Fiji in April 2022 and arrived in San Diego in June that year. The Southern District of New York ruled in March that the Amadea was to be forfeited to the federal government. That decision is being appealed by the man who claims to own the sumptuous vessel — Eduard Khudainatov, the non-sanctioned former chairman of Russian state-controlled oil giant Rosneft, according to the Associated Press. U.S. prosecutors maintain that Khudainatov is a straw owner of the yacht. On July 1, the Marshals Service authorized Fraser Yachts as the promotional agent for the sealed bid auction. The auction is being conducted in U.S. dollars and is running until 11 a.m. on Sept. 10 at The initial deposit necessary to make a bid is $10 million. All bids will remain sealed with the highest bidder winning the yacht. Should multiple participants tie with the top price, each bidder will be given a chance to increase their offering until a winner is determined.
Newsweek
5 days ago
- Business
- Newsweek
US To Auction Russian Oligarch's Seized $300 Million Superyacht
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A luxury yacht worth an estimated $300 million which was seized from a sanctioned Russian oligarch will be auctioned next month. The 348-foot long vessel Amadea that belonged to the billionaire Suleiman Kerimov will go under the hammer in September. The yacht was seized in April 2022, months after the start of Russia's full-scale invasion of Ukraine and is currently docked in San Diego. This image from June 16, 2022 shows the yacht Amadea at the Honolulu Harbor, Hawaii after it had been seized from sanctioned Russian oligarch Suleiman Kerimov. This image from June 16, 2022 shows the yacht Amadea at the Honolulu Harbor, Hawaii after it had been seized from sanctioned Russian oligarch Suleiman It Matters Kerimov has close ties to Vladimir Putin and has built his fortune through stakes in Russian gold producer Polyus, with an estimated net worth of $10.7 billion, according to Forbes. Sanctioned by the U.S. Treasury in 2014 and 2018 over Russia's activities in Ukraine and Syria, the auction of his vessel represents one of the most valuable sales of Russian oligarch assets seized under Western sanctions. What To Know U.S. authorities seized the Amadea yacht in Fiji in 2022 as part of the former Biden administration's sanctions enforcement against Putin-linked oligarchs for Russia's aggression in Ukraine. The seizure was an operation of Task Force KleptoCapture, a Justice Department initiative since disbanded by President Donald Trump. The 348-foot vessel built by German shipyard Lürssen has a helipad, pool, Jacuzzi, gym, spa, beauty salon, and eight staterooms. It spans six decks and can accommodate up to 22 guests and 36 crew members, the Superyacht Times reported. Eduard Khudainatov, the former chief of Russian state oil and gas company Rosneft, had tried to block its forfeiture in 2023 by claiming ownership of the vessel. But a U.S. judge ruled that Khudainatov acted as a "straw owner" for Kerimov and the vessel is in the possession of the United States Marshals Service in San Diego, California. Its sale is being administered by National Maritime Services of Fort Lauderdale, Florida, in accordance with a forfeiture order issued by the U.S. District Court for the Southern District of New York and Fraser Yachts is the agent for the auction. So far, the federal government has incurred costs of $32 million in maintenance, storage and transportation of the Amadea, according to a recent court filing, cited by NBC. What People Are Saying National Maritime Services chairman, Bob Toney said per NBC: "This is perhaps the most spectacular, exacting and beautiful ship any of us will ever see … an opportunity like this for discerning owners is exceedingly rare." What Happens Next There will be a sealed bid auction on September 10. Bidders must submit a $10 million deposit and provide documents by September 5. The winning bidder pays an additional $10 million within 10 days of being notified, then the remaining amount within 28 days.
France 24
5 days ago
- Politics
- France 24
Russian oligarch's superyacht to be auctioned in US
The 348-foot (106-metre) Amadea has a helipad, pool, jacuzzi, gym, spa, beauty salon and eight staterooms that can accommodate 16 guests, according to The yacht, which has been valued at more than $300 million, was seized from the Russian oligarch in Fiji in April 2022 and is currently berthed in San Diego, California. The auction is being held by National Maritime Services, a Fort Lauderdale, Florida, company. Sealed bids are being accepted until September 10 and require a $10 million initial bid deposit. The yacht is headed to the auction block after a US judge in March dismissed a competing claim to ownership of the vessel. Another wealthy Russian, Eduard Khudainatov, the former head of Russian state oil and gas company Rosneft, claimed in a New York court to be the rightful owner of the Amadea but his claim was dismissed by District Judge Dale Ho. According to prosecutors, Khudainatov was a "straw owner" of the Amadea and the true owner was Kerimov, a close ally of Russian President Vladimir Putin who was sanctioned by the United States in 2018 and again in 2022 after the Russian invasion of Ukraine. Following the invasion, the Justice Department under then-president Joe Biden began seizing the assets of Russian oligarchs close to Putin, an operation known as Task Force KleptoCapture. President Donald Trump disbanded the task force after taking office. The US Congress passed legislation last year that allows for the sale of seized Russian assets, with the proceeds going to provide humanitarian assistance to Ukraine.
Voice of America
12-03-2025
- Business
- Voice of America
Court rejects Russian oligarch's challenge to US efforts to confiscate yacht
A federal court in New York has rejected a Russian businessman's challenge to the U.S. government's efforts to confiscate a luxury superyacht that allegedly belongs to sanctioned Russian oligarch Suleyman Kerimov. The decision brings the United States closer to taking ownership of the yacht — known as Amadea — through a legal procedure known as civil forfeiture. The ruling likely represents the biggest victory so far in plans started under former President Joe Biden's administration to seize assets of sanctioned Russian tycoons and use them to support Ukraine's war effort. On March 10, the U.S. District Court for the Southern District of New York ruled that Russian businessman Eduard Khudainatov did not have standing to challenge forfeiture of the yacht because he was not its owner. And because no one else has claimed ownership, the U.S. Department of Justice will now pursue a judgment of forfeiture by default. Khudainatov's legal team plans to appeal the decision. 'The ruling is both legally and factually flawed, and we are confident it will not withstand appellate review,' Adam Ford, a lawyer representing Khudainatov and his company, said in a statement. The DOJ declined to comment on the ruling. U.S. prosecutors believe the 106-meter elite superyacht that is valued at over $230 million belongs to Kerimov, a senator, businessman and ally of Russian President Vladimir Putin. The court also concluded in legal documents that the evidence suggests that after September 2021, Kerimov or his family exercised ownership of the vessel. In 2018, the U.S. government imposed sanctions on Kerimov. The government later alleged he or people acting on his behalf made payments for repairs and upkeep of the yacht that passed through the U.S financial system — a violation of those sanctions. U.S. law enforcement seized the Amadea in 2022. But the following year, Khudainatov, who is not under U.S. sanctions, claimed ownership interest, setting the stage for a legal battle that continues today. The outcome of the case will be important not only for the true owner and Ukraine but also for American citizens. As VOA reported in May 2024, U.S. taxpayers have spent more than $740,000 a month on the yacht's maintenance. Last December, The Washington Post reported that servicing the yacht had cost the country roughly $30 million. The court previously denied the DOJ permission to sell the yacht and convert it into cash, a move that would save the government money. Battle for Amadea In May 2022, a few months after Russia launched its full-scale invasion of Ukraine, the island nation of Fiji seized the Amadea at the United States' request. It was later transferred to U.S. law enforcement. The seizure appeared to be a major victory for Task Force KleptoCapture, a DOJ unit established by the Biden administration to enforce sanctions on Russian oligarchs. But that victory turned out to be elusive. Civil forfeiture allows law enforcement to seize assets — frequently drugs, cash, automobiles and houses — that have been used in or resulted from the commission of a crime. The legal procedure's main advantage is that it does not require a criminal or civil judgment against the property's owner. But in the case of the Amadea, if Khudainatov is the yacht's owner, then financial transactions made through the U.S. to service the yacht do not violate the sanctions order. The DOJ considers Khudainatov a 'straw owner' and alleges that he is the beneficiary owner of at least eight yachts and yacht projects — a fleet worth over $1 billion. Prosecutors say that stretches far beyond his financial means, and that the yachts belong to other people. For example, the DOJ claims that Igor Sechin, the sanctioned CEO of Russian state-controlled oil company Rosneft, owns one of them. Journalists have tied the Scheherazade, another superyacht from this fleet, to Putin. In May 2022, it was seized in Italy. But proving that the Amadea belongs to Kerimov has been a challenge for the DOJ. Prosecutors alleged that the yacht's ownership was hidden behind several companies. They asserted that documents and testimony discovered during the DOJ's investigation confirmed it was controlled by Kerimov. Khudainatov's legal team argued that U.S. law enforcement conducted a hasty, partial investigation before seizing the yacht. They alleged that the DOJ also pressured yacht personnel and witnesses to provide the testimony it wanted and selectively presented evidence to support its version of the story. Among the evidence that Khudainatov's legal team submitted is a sworn statement by Kerimov's daughter Gulnara, claiming to have chartered the Amadea for a trip in early 2022 with her children, brothers and sisters, and their nannies and bodyguards. But she stated that her parents were not present on the yacht, and that she never owned it. The U.S. government 'resorted to desperate, strong-arm tactics to get the statements that fit their false narrative,' lawyer Ford said in a statement last month. 'The government simply fabricated the allegations that Kerimov purchased the Amadea. It is owned by Mr. Khudainatov and always has been.' Next steps Stefan Cassella, a former federal prosecutor and expert on civil forfeiture, does not expect the case to be over anytime soon. A month before the ruling on Khudainatov's status, he told VOA that the standard strategy for resisting forfeiture typically consists of dragging out the proceedings for as long as possible to increase the costs for the government. Cassella expected Khudainatov to appeal any ruling, a process he thought would take at least a year. 'Civil forfeiture is often mistaken to be a streamlined process,' Cassella said. 'It is not. It is saturated with due process — and it should be.' Additionally, DOJ priorities have changed since the start of the case. On Feb. 5, Pam Bondi took office as the new U.S. attorney general. That same day, she sent a memorandum stating that the DOJ's new priority would be the 'total elimination' of drug cartels and transnational criminal organizations. In the same document, she announced the dissolution of the KleptoCapture task force, the anti-kleptocracy team and the kleptocracy asset recovery initiative.
Yahoo
11-03-2025
- Business
- Yahoo
Russian Yacht Valued at $300 Million Now Faces Forfeiture
(Bloomberg) -- The US moved closer to auctioning off sanctioned Russian billionaire Suleiman Kerimov's superyacht, one of the most glittering prizes in its asset seizure efforts, after a judge ruled that a second Russian who claims ownership has no legal standing in the case. NJ College to Merge With State School After Financial Stress NYC Congestion Pricing Toll Gains Support Among City Residents Where New York City's Zoning Reform Will Add Housing Buffalo's Billion-Dollar Freeway Fix Is on Ice, But Not Because of Trump Inside the 'Not Architecture' of High Line Designers Diller Scofidio + Renfro Monday's ruling that the US has won forfeiture of the boat comes after a legal fight over the 348-foot (106-meter) Amadea, following a Biden administration program to target wealthy Russians linked to President Vladimir Putin's war on Ukraine. The yacht was seized in Fiji in 2022 at the request of the US, which claimed that Kerimov is the owner. But a wealthy Russian who isn't under US sanctions, former Rosneft head Eduard Khudainatov, said it really belonged to him. The government contended that Khudainatov was just a straw owner masking Kerimov's true role to help him dodge the sanctions. The Amadea is one of the most visible trophies for the Joe Biden-era Justice Department's KleptoCapture task force, established in March 2022 to go after overseas assets linked to Russian tycoons in Putin's circle. But the fate of the government's efforts to enforce Russian sanctions through such asset seizures is now unclear, after President Donald Trump's attorney general, Pam Bondi, disbanded the group shortly after Trump took office. Straw Owner In the meantime, government lawyers continued to pursue the case. A Justice Department spokesperson said on Monday that the US continues to litigate existing forfeiture cases and that a law permitting money seized under the sanctions to be provided as aid to Ukraine expires in May and is at the discretion of the attorney general. In his ruling, US District Judge Dale Ho in Manhattan said the evidence showed the Amadea's ownership was transferred to a company tied to Kerimov following a payment of €225 million ($244 million). That's enough to conclude that Khudainatov isn't the yacht's true owner but just held title to it for another party, and therefore lacks standing to contest forfeiture, Ho said. He also dismissed Khudainatov's claim for his repeated failure to provide pretrial testimony in the case. The judge ruled in the government's favor on forfeiture. Adam Ford, a lawyer for Khudainatov, said the judge got it wrong and that his client plans to appeal. 'The court misapplied the law governing standing in forfeiture proceedings, disregarding well-established principles that protect the rights of claimants in such cases,' Ford said in a statement. 'Moreover, the court improperly relied on speculative and unreliable assertions from the government while failing to give due weight to the extensive evidence we presented in support of our claim.' High Maintenance The German-built yacht has cost US taxpayers almost $750,000 a month to maintain and insure as it remains in custody in San Diego pending the conclusion of the legal battle. It has a beauty salon, a swimming pool, eight suites and a VIP cabin complete with study and dressing rooms, according to One estimate valued it at $300 million or more, while an independent appraiser later put its fair market value at $230 million. Kerimov is the 17th-richest person in Russia, with a net worth of $8.9 billion, according to the Bloomberg Billionaires Index. During a hearing, Justice Department lawyer Rachael Doud told the judge that evidence showed Kerimov had bought the yacht through intermediaries in 2021, after which his family used it exclusively. Ford argued that the government had no evidence that his client is a straw owner, calling the seizure 'unlawful' and 'a failed political stunt.' The case is US v. M/Y Amadea, 23-cv-09304, US District Court, Southern District of New York (Manhattan). (An AI summary previously at the top of this story was removed because it misstated the year the yacht was seized.) How Natural Gas Became America's Most Important Export Germany Is Suffering an Identity Crisis 80 Years in the Making The Mysterious Billionaire Behind the World's Most Popular Vapes Disney's Parks Chief Sees Fortnite as Key to Its Future Greenland Voters Weigh Their Election's Most Important Issue: Trump ©2025 Bloomberg L.P.
