Russian oligarchs are running out of safe places to hide their yachts and jets
, 2022-11-16 20:49:50,
The man spearheading the U.S. hunt for the yachts, private jets and cash stashes of sanctioned Russians warned they may struggle to hide their riches in even the most far-flung parts of the globe.
The Justice Department’s “KleptoCapture” taskforce has been at the forefront of holding sanctioned Russians to account since the President Vladimir Putin’s invasion of Ukraine.
The team, which has so far seized “multiple hundreds of millions of dollars” worth of assets, will continue to make “arrests around the world, in pockets of the world where people might otherwise think that they are safe from arrest,” Andrew Adams, the prosecutor leading the initiative, said in an interview with Bloomberg.
In the weeks after the February invasion of Ukraine, western governments moved quickly to clamp down on the movement of Russian assets, often cloaked by complicated ownership structures.
The U.S. set up the inter-agency taskforce in March to pursue assets of Russians subject to sanctions and issued a flurry of warrants to seize superyachts in Spain and Fiji and ground private jets in Dubai….
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