David Sun The Straits Times April 21, 2024 A Russian man bought more than US$65 million (S$88 million) worth of gold bullion held in Singapore in a money laundering conspiracy meant to fund the Russian military’s invasion of Ukraine.
Posted on 21 April 2024 | 246 views | 1 commentA Russian man bought more than US$65 million worth of gold bullion held in Singapore in a money laundering conspiracy meant to fund the Russian military’s invasion of Ukraine., which stores the bullions at Le Freeport, a secured logistics hub in Changi North Crescent.
“SGPMX adheres to the highest standards of checks and due diligence and is bound to strict confidentiality clauses as dictated by local regulations and Personal Data Protection Act laws,” a spokesman added.The US Attorney’s Office for the Northern District of Georgia said Medvedev resided in Georgia, US, where he had registered eight companies which were used to illegally transmit the illicit funds.
Alexey Chubarov, 42, and Lev Solyannikov, 31, are alleged to have informed Medvedev about the incoming fund transfers, and directed him on transfers to make after, including to SGPMX to buy the gold bullion. US Attorney-General Merrick B. Garland said on Feb 22 that the illicit funds were for fuelling Russia’s invasion of Ukraine.
US Deputy Attorney-General Lisa Monaco said the prosecution of Medvedev, Chubarov, Solyannikov and KSK Group is part of the actions taken by Task Force KleptoCapture, a US Department of Justice unit formed in March 2022.
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