The Gist: Russian citizen Feliks Medvedev is facing charges for operating an unlicensed money transmitting business and 39 counts of money laundering, allegedly using the American banking system to illegally transmit over $150 million.
What Happened?: Medvedev, who resides in North Georgia, is accused of registering eight companies in Georgia, using them to transmit the large sum in a series of 1,300 transactions. The companies, headquartered in Buford and Dacula, did not generate typical business expenses or maintain employees. Part of the money was used to purchase over $65 million in overseas gold bullion.
By The Numbers:
- $150 million: Amount allegedly illegally transmitted
- 1,300: Number of transactions conducted
- $65 million: Amount used to purchase overseas gold bullion
- 8: Companies registered by Medvedev in Georgia
Why It Matters: These types of criminal actions threaten the integrity of the U.S. financial system. Money laundering is not a victimless crime, and the FBI is committed to fighting it.
What’s Next?: Medvedev was indicted by a federal grand jury on April 11, 2023. He is presumed innocent until proven guilty, and the government will need to prove his guilt beyond a reasonable doubt at trial. The case is being investigated by the FBI and prosecuted by Assistant U.S. Attorneys Christopher J. Huber and Radka T. Nations.