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Feliks Medvedev, Unlicensed Money Transmitter, Georgia 2024
ATLANTA – Feliks Medvedev, a Russian national residing in Buford, Georgia, has pleaded guilty to operating an unlicensed money transmitting business in North Georgia. Medvedev transferred over $150 million of foreign currency through U.S. bank accounts in North Georgia. The money was used, in part, to purchase over $65 million in gold bullion from the Singapore Precious Metals Exchange.
Medvedev registered eight companies in Georgia that were used to illegally transmit more than 1,300 transactions. The companies were purportedly headquartered in Buford, Georgia, and Dacula, Georgia. The companies did not incur typical business expenses or maintain employees. A large majority of the money transferred into the accounts came from multiple overseas companies and was transferred generally within days to other foreign companies.
‘The Justice Department is more committed than ever to cutting off the flow of illegal funds that are fueling Putin’s war and to holding accountable those who continue to enable it,’ said Attorney General Merrick B. Garland. ‘That is why today we are announcing several additional enforcement actions that the Justice Department has taken to bring prosecutions against and seize assets of sanctioned enablers of the Kremlin and Russian military.’
‘Since the onset of Russia’s brutal and unprovoked invasion of Ukraine, the Justice Department has used every tool in our arsenal – including our international partnerships – to target the criminal actors and activity propping up Vladimir Putin, his henchmen, and his illegal war,’ said Deputy Attorney General Lisa Monaco. ‘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 and charged more than 70 individuals for violating international sanctions and export controls levied against Russia.’
‘America’s financial institutions provide critical stability to our economic and national security. Thus, these corporations are rightly the envy of the world. They are not, however, a tool to be exploited for the illegal transfer and laundering of illicit Russian money,’ said U.S. Attorney Ryan K. Buchanan. ‘After fraudulently transferring and partly laundering over $150 million, Feliks Medvedev has pleaded guilty and will face severe consequences for his crimes.’
‘Medvedev’s guilty plea should serve as a stark warning to those who seek to undermine the security of American financial institutions, the FBI will uncover the truth and hold them accountable,’ said Keri Farley, Special Agent in Charge of FBI Atlanta.
The indictment of Alexey Chubarov, Lev Solyannikov, and KSK Group, who were charged with conspiracy, operating an unlicensed money transmitting business, and 39 counts of money laundering, demonstrates the resolve to pursue individuals in the Northern District of Georgia and across the world who seek to facilitate the illegal transfer of Russian money.
Key Facts
- State: Georgia
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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