Russian man living in Georgia charged with illegally transmitting $150 million

May 1, 2023
1 min read
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.


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.

The form you have selected does not exist.


Trending

Counties in The News
445
270
222
146
132
118
see more close table

Events Calendar

Subscribe to Our Free Email NewsletterSubscribe