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Feliks Medvedev Sentenced for Running Illegal Money Transmitter
Buford, GA – In a shocking turn of events, Feliks Medvedev, a 43-year-old Russian citizen residing in Buford, Georgia, has been sentenced to three years and 10 months in prison for conducting an unlicensed money transmitting business.
According to court documents, Medvedev registered eight companies in Georgia that were used to transmit over $150 million in Russian money through more than 1,300 transactions. The companies, purportedly headquartered in Buford and Dacula, Georgia, had no typical business expenses or employees.
The money was used, in part, to purchase over $65 million in overseas gold bullion. Medvedev transferred millions of dollars overseas from multiple bank accounts in the United States.
As part of the conspiracy, Medvedev worked with a Russian company and was directed by multiple Russian nationals at that company to make illegal transfers of funds. The U.S. Department of the Treasury’s Office of Foreign Assets Control sanctioned two of Medvedev’s alleged co-conspirators, Russian national Alexey Chubarov and his company KSK Group, on September 14, 2023.
Earlier this year, on February 13, Chubarov, KSK Group, and Russian national Lev Solyannikov were separately indicted in the Northern District of Georgia for conspiring with Medvedev.
Medvedev was convicted of the charges on February 7, after he pleaded guilty. The FBI and the Department of Commerce’s Bureau of Industry and Security are investigating the case.
Assistant U.S. Attorneys Christopher J. Huber and Norman L. Barnett for the Northern District of Georgia are prosecuting the case. This case was coordinated through the Justice Department’s Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export controls, and economic countermeasures taken by the United States in response to Russia’s unprovoked military invasion of Ukraine.
Medvedev’s sentencing is a significant blow to the international money laundering network. The Task Force KleptoCapture will continue to leverage all of the department’s tools and authorities to combat efforts to evade or undermine the collective actions taken by the U.S. government in response to Russian military aggression.
Key Facts
- State: Georgia
- Category: Fraud & Financial Crimes|Cybercrime|White Collar Crime
- Source: DOJ Press Release â†â€â€
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