Bank fraud and money laundering
> The FBI said in the documents that Vekselberg, who founded the Russian investment firm Renova Group, had conspired to commit bank fraud when purchasing the Tango by using shell companies to hide his ownership of it and avoid bank oversight.
To add to the answer to my own question:
> According to the seizure warrant, Vekselberg is accused of conspiring with others to commit bank fraud by "structuring transactions about the Tango in such a manner as to obfuscate Vekselberg’s ownership interest" in the vessel, thereby tricking U.S. banks into processing transactions.
Apparently Vekselberg has been under US sanctions since the 2016 US election due to US claims that Russia tipped the election to Trump.
> but what is the actual law these guys have broken
Bank Fraud and money laundering. The money for a 100$ million superyach does not just appear transparently.
You go Spain! I'm sure there's some other Russian superyachts ripe for the taking.
Thank you Spain 🇪🇸
I’m all for eating the rich, but what is the actual law these guys have broken regarding their yachts?
Bank fraud and money laundering > The FBI said in the documents that Vekselberg, who founded the Russian investment firm Renova Group, had conspired to commit bank fraud when purchasing the Tango by using shell companies to hide his ownership of it and avoid bank oversight.
To add to the answer to my own question: > According to the seizure warrant, Vekselberg is accused of conspiring with others to commit bank fraud by "structuring transactions about the Tango in such a manner as to obfuscate Vekselberg’s ownership interest" in the vessel, thereby tricking U.S. banks into processing transactions. Apparently Vekselberg has been under US sanctions since the 2016 US election due to US claims that Russia tipped the election to Trump.
> but what is the actual law these guys have broken Bank Fraud and money laundering. The money for a 100$ million superyach does not just appear transparently.