Russian National Pleads Guilty in Connection to Over $150 Million Worth of International Transfers, while Additional Russian Nationals and their Company also Indicted as Part of a Continuing National Enforcement Operation by the Department of Justice

ATLANTA - Feliks Medvedev, who transferred more than $150 million of foreign currency through U.S. bank accounts in North Georgia, has pleaded guilty to operating an unlicensed money transmitting business. In addition, Alexey Chubarov, Lev Solyannikov, and KSK Group were indicted on February 13, 2024, for the offenses of conspiracy, operating an unlicensed money transmitting business, and 39 counts of money laundering for their alleged respective roles related to Medvedev’s scheme. These prosecutions are a continuation of the Department of Justice’s prioritization of enforcing the sweeping sanctions, export restrictions, and economic countermeasures that the United States, together with its global partners, imposed against Russia following its invasion of Ukraine.                                                           

“The Justice Department is more committed than ever to cutting off the flow of illegal funds that are fueling Putin’s war and to holding accountable those who continue to enable it,” said Attorney General Merrick B. Garland. “That is why today we are announcing several additional enforcement actions that the Justice Department has taken to bring prosecutions against and seize assets of sanctioned enablers of the Kremlin and Russian military.”

“Since the onset of Russia’s brutal and unprovoked invasion of Ukraine, the Justice Department has used every tool in our arsenal – including our international partnerships – to target the criminal actors and activity propping up Vladimir Putin, his henchmen, and his illegal war,” said Deputy Attorney General Lisa Monaco. “Over the last two years, our Task Force KleptoCapture has restrained, seized, and obtained judgments to forfeit nearly $700 million in assets from Russian enablers and charged more than 70 individuals for violating international sanctions and export controls levied against Russia. The charges we announce today against oligarchs, facilitators, and money launderers are the next chapter: so long as Russia's aggression continues, so too will our resolve to hold its enablers accountable. We stand firmly with the people of Ukraine.”

“America’s financial institutions provide critical stability to our economic and national security. Thus, these corporations are rightly the envy of the world. They are not, however, a tool to be exploited for the illegal transfer and laundering of illicit Russian money,” said U.S. Attorney Ryan K. Buchanan. “After fraudulently transferring and partly laundering over $150 million, Feliks Medvedev has pleaded guilty and will face severe consequences for his crimes. The indictment of others involved in his offenses demonstrates our resolve to pursue individuals in the Northern District of Georgia and across the world who seek to facilitate the illegal transfer of Russian money.”

“Medvedev’s guilty plea should serve as a stark warning to those who seek to undermine the security of American financial institutions,  the FBI will uncover the truth and hold them accountable,” said Keri Farley, Special Agent in Charge of FBI Atlanta. “The indictment of his co-conspirators further demonstrates our steadfast commitment to safeguarding our national and economic security.”

According to U.S. Attorney Buchanan, the charges and other information presented in court: Medvedev is a Russian national residing in Buford, Georgia. Medvedev registered eight companies in Georgia that were used to illegally transmit over $150 million in more than 1,300 transactions. The companies were purportedly headquartered in Buford, Georgia, and Dacula, Georgia. The companies did not incur typical business expenses or maintain employees. A large majority of the money transferred into the accounts came from multiple overseas companies and was transferred generally within days to other foreign companies. The money was used, in part, to purchase over $65 million in gold bullion from the Singapore Precious Metals Exchange.

Relatedly, a federal grand jury in the Northern District of Georgia returned an indictment on February 13, 2024, alleging that Defendants Alexey Chubarov, Lev Solyannikov, and KSK Group conspired with Medvedev in the transfer of these funds and then laundered the illegal proceeds. KSK Group is a business consulting firm in Moscow. Chubarov and Solyannikov both worked for KSK Group, and Chubarov was identified as an expert on international structuring.

Chubarov and Solyannikov allegedly informed Medvedev about incoming wires. They then directed Medvedev concerning the outgoing transfers he should make, including the transfer of funds to the Singapore Precious Metals Exchange to purchase gold bullion.

On September 14, 2023, the United States Department of the Treasury, Office of Foreign Asset Control announced that Chubarov and KSK Group were added to the Specially Designated Nationals List of sanctioned entities under Executive Order 14024.

Medvedev’s sentencing is scheduled for May 7, 2024, at 10:00 a.m., before United States District Judge Thomas W. Thrash, Jr.

Medvedev pleaded guilty in United States v. Feliks Medvedev, Criminal Case No. 1:22-CR-184.  The new indictment is United States v. Alexey Chubarov, Lev Solyannikov, and KSK Group, Criminal Case No. 1:23-CR-53.

Members of the public are reminded that the indictment only contains charges. The defendants are presumed innocent of the charges and it will be the government’s burden to prove the defendants’ guilt beyond a reasonable doubt at trial.

This case is being investigated by the Federal Bureau of Investigation.

Assistant U.S. Attorneys Christopher J. Huber, Norman L. Barnett, and Sekret T. Sneed are prosecuting the case.

This case was coordinated through the Justice Department’s Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export controls and economic countermeasures that the United States, along with its foreign allies and partners, has imposed in response to Russia’s unprovoked military invasion of Ukraine. Announced by the Attorney General on March 2, 2022, and under the leadership of the Office of the Deputy Attorney General, the task force will continue to leverage all the Department’s tools and authorities to combat efforts to evade or undermine the collective actions taken by the U.S. government in response to Russian military aggression.

For further information please contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6280.  The Internet address for the U.S. Attorney’s Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga.