On Friday, the 20th of January, the United States Department of Justice announced that they had arrested well-known industry figure Richard Masters, Founder of Master Yachts, and Russian businessman Vladislav Osipov, for facilitating a sanctions evasion and money laundering scheme. The allegations are in relation to the 77m M/Y Tango which is reportedly owned by the Russian Oligarch Viktor Vekselberg. The United States requested that the Kingdom of Spain provisionally arrest Masters for purposes of extradition.

The defendants are charged with conspiracy to defraud the United States and to commit offences against the United States, violating the International Emergency Economic Powers Act (IEEPA), and money laundering. However, it should also be noted that an indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

According to various sources, The Guardia Civil arrested Masters in the early hours of Friday morning and was flown to Madrid where he underwent questioning. Richard Masters is yet to be extradited to the US and his company Master Yachts has not yet offered a statement to the press.

The news all but confirms that the great yacht hunt is far from over. The FBI appear to be relentless in their pursuit of anyone who appears to…