How do sanctioned Russian oligarchs continue to move their wealth despite international restrictions? The answer lies in real estate, shell companies, and complicit gatekeepers. In this episode of Corruption, Crime, and Compliance, Michael Volkov dives into one of the latest OFAC enforcement actions against Family International and its owner, Roman Sinyavsky, for facilitating sanctions evasion on behalf of Russian oligarchs. Through complex real estate transactions, Sinyavsky helped conceal luxury properties owned by Valeri Abramov and Viktor Perevalov, allowing them to continue generating revenue despite U.S. sanctions. This case highlights the growing risk of financial crime in the real estate sector and the increasing scrutiny on those who enable it.
You'll hear him discuss:
- The $1.07 million OFAC settlement and the criminal charges against Roman Sinyavsky for sanctions evasion and money laundering
- How sanctioned Russian oligarchs used non-sanctioned family members and shell companies to obscure their ownership of U.S. properties
- The key role of real estate professionals, lawyers, and financial advisors in facilitating these schemes and why they should have raised red flags
- The use of text messages as critical evidence proving intent and knowledge of sanctions violations
- The specific techniques used to transfer property ownership and avoid detection by authorities
- The increasing enforcement focus on commercial and residential real estate transactions as a high-risk area for financial crime
- Predictions for 2024, including tighter sanctions enforcement on Russia and Iran and what it means for businesses and compliance professionals
Resources
Michael Volkov on LinkedIn | Twitter
The Volkov Law Group
