Latest news with #TaskForceKleptoCapture
Newsweek
a day 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.
The Sun
2 days ago
- Business
- The Sun
Russian oligarch's $300m superyacht Amadea to be auctioned in US
MIAMI: A luxurious superyacht seized by the US authorities from sanctioned Russian billionaire Suleiman Kerimov is headed to the auction block. 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. - AFP
France 24
2 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.
Euronews
27-03-2025
- Business
- Euronews
Cyprus says it will adopt FBI guidance on tackling financial crime and sanctions evasion
ADVERTISEMENT Authorities in Cyprus have said they will adopt the recommendations of a security initiative developed with help from the US to fight money laundering, sanctions evasion and other financial crimes. The announcement comes after a team from the Federal Bureau of Investigation (FBI) was seconded to the Mediterranean island nation for nine months. The FBI team helped to train Cypriot police to identify and prosecute cases of illegal financing and attempts to evade US, EU and UN sanctions imposed on any third country. The US team has also produced a detailed report outlining specific recommendations and proposals including additional staff training, upgrading high-tech systems and amending existing legislation, Cyprus government spokesman Konstantinos Letymbiotis said. Cypriot police officers stand by a police van outside a courthouse complex in Paphos, 5 December, 2022 AP Photo He said Cypriot law enforcement authorities are currently looking to put into use the recommendations to bolster their effectiveness. The joint initiative was set up in 2023 under the Biden administration after Cypriot President Nikos Christodoulides invited FBI and Justice Department officials to assist with investigations into allegations that Cypriot financial service providers had helped Russian oligarchs skirt international sanctions. Since then, the Trump administration has disbanded the Biden-era Task Force KleptoCapture, a programme which was aimed at seizing the assets of Russian oligarchs. However, last week, Trump said he is "strongly considering" levying new sanctions and tariffs on Russia unless it stops its war against Ukraine. Related Turkish Cypriot and Greek Cypriot diplomats meet for peace talks with little hope of breakthrough Geneva hosts UN-backed Cyprus peace talks with little hope for breakthrough Christodoulides has pledged to clean up Cyprus' reputation as a money laundering and sanctions evasion hub. As part of those efforts, Cypriot law enforcement agencies received training on financial investigative and forensic accounting techniques both locally and at the International Law Enforcement Academy in the Hungarian capital, Budapest, according to a Cyprus-US joint statement issued last year. The UK said last December it would share information with the Cypriot Ministry of Finance "to disrupt and intercept the flow of illicit finance through Europe to ensure the effectiveness of sanctions on Putin's war machine".
Yahoo
10-03-2025
- Politics
- Yahoo
Russian oligarch's superyacht could be auctioned in US
A luxurious superyacht that belonged to Russian billionaire Suleiman Kerimov may be headed to the auction block after a US judge on Monday dismissed a competing claim to ownership of the $300 million vessel. The 348-foot (106-metre) Amadea has been docked in the California port of San Diego after it was seized by US authorities from the sanctioned Russian oligarch. 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 vessel 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 US 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. The Amadea, which has a helipad, pool, jacuzzi and "winter garden" on deck, according to the website was seized in Fiji in April 2022 at the request of US authorities and later transferred to San Diego. cl/mlm
