U.S. accuses Russian oligarch Viktor Vekselberg of bank fraud, money laundering as Spain seizes his $90 million yacht

Victor Velselberg
Credits: RIA Novosti/ Wikimedia Commons

The United States government accused Russian oligarch Viktor Vekselberg of conspiring to commit bank fraud, money laundering, and violating sanction statutes.The Spanish government seized his $90 million luxury yacht.

Vekselberg is the founder and Chairman of Renova Group, which owns asset management companies and investment funds. The conglomerate owns assets in several sectors of Russia’s economy including aluminum, energy, telecommunications, etc.

In 2018, the U.S. government sanctioned Velselberg and 11 other Russian oligarchs and the companies they own and control, 17 senior Russian government officials, Rosoboroneksport,  a state-owned Russian weapons trading company, and the Russian Financial Corporation Bank (RFC Bank).

U.S. DOJ requested Spanish authorities seize Vekselberg’s luxury yacht

According to the U.S. Department of Justice (DOJ), Spanish authorities seized Vekselberg’s 255-foot luxury yacht called Tango upon its request.

The U.S. District Court for the District of Columbia issued a seizure warrant alleging that the Tango was subject to forfeiture based on Vekselberg’s violation of the U.S. bank fraud, money laundering, and sanction statutes.