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The Oligarch Hunting – Italian authorities seize more superyachts and assets!

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Disclaimer: First of all, we would like to point out that FinTelegram does not do war reporting but considers reporting on financial crimes related to the Ukraine War as part of its mission. Furthermore, we find the hypocrisy of all parties involved about the reasons for this war disgusting. The Ukrainian oligarchs have been looting the country for years, supported by the US, the UK, and Russia. Evidently, their stolen assets remain untouched, although they belong to the Ukrainian people. This should not excuse the Russian oligarchs, but we think the new US task force KleptoCapture should go after the Ukrainian kleptocrats too. We are trying to show the immense fortune these kleptocrats have accumulated at the expense of their people and nations.

The Guardian reports that Italian law enforcement has seized villas and yachts worth at least €140m from four Russian oligarchs, placed on an EU sanctions list after Russia invaded Ukraine. They forfeited a villa owned by the billionaire businessman Alisher Usmanov on Sardinia and a villa on Lake Como owned by Vladimir Soloviev. The agents also seized superyachts belonging to Russia’s richest man, Alexei Mordashov and Gennady Timchenko. The hunting season against the Russian kleptocrats continues.

According to Forbes magazine, Alexei Mordashov had an estimated net worth of $29.1B before sanctions hit. His 65-meter yacht Lady M is valued at €65m. It was impounded in the northwest port of Imperia. The Guardian reports that Gennady Timchenko’s superyacht, Lady Lena, worth €50m, was seized in nearby Sanremo. Timchenko made a fortune in oil trading and has been described by Putin as one of his closest associates.

Alisher Usmanov’s $600M Dilbert was found in Germany and Igor Sechin‘s $140M Amore Vero in France. Please read this report here. Nothing hurts Russian oligarchs more than losing their luxury toys.

CategoriesCorruption

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