A US prosecutor said that some of the wealth of the Russian oligarchs would be used to make up for the damage done to Ukraine. Andrew Adams, who is in charge of the task force set up by the Department of Justice in 2022, says that for the past 10 months, a prestigious task force called KleptoCapture has been looking for Russia’s richest oligarchs. The task force has nearly $1 billion worth of yachts, real estate, bank accounts, and other assets that were taken from the oligarchs, and they plan to give them to Kyiv.
Adams said in a speech to the Hudson Institute in Washington, DC, “We’re… ready to start the transfer of forfeited assets for the benefit of Ukraine.” The New York Post reported that the idea of the handover was a “relatively new development” with no set date.
How does KleptoCapture work?
According to the DOJ, KleptoCapture is an interagency law enforcement task force whose only goal is to carry out the broad sanctions, export controls, and economic remedies that the US and its allies and partners have put in place in response to Russia’s unprovoked military invasion of Ukraine.
Who is in charge of the KleptoCapture group?
Andrew Adams, a federal prosecutor with a lot of experience, will lead the new KleptoCapture task team. This was decided by the Justice Department. He used to be co-chief of the Southern District of New York’s Money Laundering and Transnational Criminal Enterprises section.
The Hudson Institute says that KleptoCapture is part of the international task force REPO, which stands for the Russian Elites, Proxies, and Oligarchs Task Force. Together, REPO has frozen hundreds of billions of dollars in Russian state assets and tens of billions of dollars linked to ruling classes with ties to the Kremlin.
During its investigation, KelptoCapture has found what?
During his speech to the Hudson Institute, Adams is said to have talked about how KleptoCapture has made a lot of high-profile seizures since it started in March 2022. These seizures include “a couple hundred million to a billion worth of yachts, real estate property, and assets,” as well as weapons that were on their way to Russia during the unprovoked war.
After Russia invaded Crimea in 2014, the New York Post said, the US first put sanctions on Russian oligarchs and other people close to Russian President Vladimir Putin. In 2018, these penalties were brought back. KleptoCapture moved quickly to speed up the investigations into sanctions and seize superyachts and other “mobile assets.”
Adams says, “During last year’s State of the Union address, President Biden said that the Department of Justice will set up a task force with a focus on at the beginning of March.” the Union speech in early March.” pursuing the unlawfully acquired assets of Russian billionaires.” He reported that KleptoCapture was already operational. Adams stated, Adams explained that in the first phase, “high-value assets around the globe were swiftly seized,” including things like yachts, planes, cash accounts, securities, and real estate.
The United States has imposed an economic blockade on the people who are protesting against their policies, and the main purpose of the seizures was to demonstrate the United States might reach, and devotion to the cause. provide criminal and material support [to the Russian war effort],” he said.
The “high-speed chase” and seizure of oligarch Suleiman Kerimov’s $325 million, 350-foot yacht Amadea was the most exciting time when people from different countries worked together. Adams says that the capture of a yacht that was “running away from an international dragnet from the Atlantic through the Panama Canal and through the Pacific” took weeks, not years. He said, “A team of lawyers, agents, analysts, and linguists worked all night for the task force and our international colleagues and did a great job.
Follow for more updates-Newsydrone.com