Andrew Adams, a veteran prosecutor chosen to lead the KleptoCapture task force set up last month, told Reuters that in some cases, even unsanctioned oligarchs try to move their assets. data before possible future sanctions. . However, even as they try to hide yachts, planes or other movable property in countries they believe are secretive, Adams warned that oligarchs trying to avoid sanctions face a “high level” of international co-operation to track their illicit profits. Russian elites. Sign up now for FREE unlimited access to Reuters.com Register “There are efforts – some of which have been made public – to transfer, for example, movable property in the form of yachts, planes … to jurisdictions where, I think, people think it would be harder to investigate and harder to freeze.” said Adams. The task force is aimed at putting pressure on the finances of Russian oligarchs in a bid to force President Vladimir Putin to halt his offensive in Ukraine for weeks. read more The name of the unit is a game with the word “kleptocracy”, which refers to corrupt officials who abuse power to accumulate wealth. The working group includes prosecutors, investigators and analysts from several federal agencies. The United States and its allies have imposed several rounds of sanctions on Putin, many of his wealthy friends, and dozens of Russian companies and government agencies. “COMMON SENSE OF PURPOSE” Detecting oligarchs’ assets is often difficult because they are hidden behind “layers of shell companies scattered around the world,” Adams said. U.S. prosecutors are receiving information from places that were previously considered safe havens, Adams said. “Especially in the current context and the current climate … the level of common sense of purpose I think is at an all-time high,” Adams said. He declined to provide details of specific jurisdictions that provided information to the panel or to name specific individuals under investigation. He said targeting assets abroad was an important part of the plant’s work, adding that the United States had not been an attractive country for supporters of Putin’s government since 2014 due to a series of sanctions on Crimea annexation by Moscow from Ukraine. European countries have already found and kept the yachts of wealthy Russian businessmen. The Spanish government has temporarily seized the $ 140 million Superyacht Valerie, which is linked to Sergei Tsemezov, a former KGB officer who leads the state-owned Rostec group. France last month seized a ship belonging to Rosneft boss Igor Sechin, while Italy seized a yacht belonging to Russian billionaire Andrew Igorevich Melnichenko. The Justice Department said last month that information provided by U.S. law enforcement agencies to foreign partners had contributed to multiple ship seizures. “The United States was not a friendly place to park your money as an oligarch,” Adams said. “The most ostentatious, most obvious types of assets are not found in the United States.” Adams cited a 2019 case in which U.S. authorities seized Wise Honest, a North Korean cargo ship accused of smuggling coal in violation of U.S. sanctions, even though the ship was originally off U.S. soil as a “book” for some from the future affairs of the working group. ONLY LONG LEGAL RACE Adams said prosecutions and foreclosure warrants could come in the “early days” of the unit, which was also preparing for protracted legal battles by oligarchs seeking to prevent the United States from permanently seizing their assets. data through civil seizure. These cases can allow the department to take illegally acquired property in cases where individuals are out of the country and cannot be extradited. Criminal seizures, meanwhile, can be accompanied by an indictment against the property owner. “We have to expect that extremely well-meaning parties will take matters to court. We will be involved in litigation that will last for a while,” Adams said. The task force may also target banks, cryptocurrency exchanges or other financial institutions to help violators of sanctions by turning a blind eye to suspicious transactions. Adams said many institutions had volunteered to provide information. “Cooperation from the private sector was already frequent.” Sign up now for FREE unlimited access to Reuters.com Register Report by Sarah N. Lynch and Luc Cohen in New York. Editing by Scott Malone and Grant McCool Our role models: The Thomson Reuters Trust Principles.
