Skip to Content
AP National Business

Cash is king for sanctioned Russian, Venezuelan oligarchs

KION
By
Published 9:01 PM

By JOSHUA GOODMAN
Associated Press

MIAMI (AP) — Politically connected billionaires from Russia and Venezuela are at the center of a 49-page criminal indictment that reads like a how-to guide on circumventing U.S. sanctions. Charges were unveiled this week in New York against seven individuals who allegedly used a complex network of Hong Kong shell companies, cryptocurrency and cash drop offs to sidestep the western financial system. Prosecutors allege the conspiracy’s aim was to purchase sensitive U.S. military technology, smuggle illicit Venezuelan oil and launder tens of millions of dollars on behalf of wealthy Russian businessmen.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KION 46 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content