Feliks Medvedev, Unlicensed Money Transmitter, Georgia 2024
Feliks Medvedev, 43, of Buford, Georgia, Sentenced for Unlicensed Money Transmitter
A Russian man has been ordered to pay a $10,000 fine and serve three years and 10 months in prison for running an unlicensed money transmitting business in the state of Georgia.
Feliks Medvedev, a 43-year-old resident of Buford, Georgia, was convicted of conducting an unlicensed money transmitting business, which transferred over $150 million in Russian money, according to court documents.
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 money was used, in part, to purchase over $65 million in overseas gold bullion.
The investigation revealed that Medvedev registered eight companies in Georgia that were used to transmit more than $150 million in over 1,300 transactions. The companies were purportedly headquartered in Buford and Dacula, Georgia, but they did not have typical business expenses or employees.
Following the conviction, 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.
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 are prosecuting the case.
Key Facts
- State: Georgia
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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