Russian national living in Buford pleads guilty to illegally transferring $150M

Feliks Medvedev, a Russian national residing in Buford, has pleaded guilty to charges related to operating an unlicensed money transmitting business. Medvedev admitted to transferring over $150 million through U.S. bank accounts in North Georgia.

The case, a result of the Douglasville Police Department's investigation, has wider implications as it aligns with the Department of Justice's commitment to enforcing sanctions against Russia following its invasion of Ukraine. Medvedev's guilty plea comes alongside the indictment of Alexey Chubarov, Lev Solyannikov, and KSK Group on February 13, 2024, for charges including conspiracy, operating an unlicensed money transmitting business, and 39 counts of money laundering related to Medvedev's activities.

Attorney General Merrick B. Garland emphasized the Justice Department's determination to cut off the flow of illegal funds supporting Putin's war and to hold accountable those enabling it. Deputy Attorney General Lisa Monaco highlighted the department's use of international partnerships to target criminal actors backing Vladimir Putin's illegal war.

U.S. Attorney Ryan K. Buchanan underscored the severity of Medvedev's actions, stating that America's financial institutions should not be exploited for the illegal transfer and laundering of illicit funds. Buchanan noted that Medvedev's guilty plea and the indictment of his co-conspirators demonstrate the resolve to pursue individuals worldwide involved in facilitating the illegal transfer of Russian money.

According to the charges presented in court, Medvedev registered 8 companies in Georgia used for illegal currency transmission. The funds, totaling over $150 million, were transferred through more than 1,300 transactions. These companies, purportedly headquartered in Buford and Dacula, did not incur typical business expenses or maintain employees. The money was swiftly transferred to foreign companies, with a significant portion used to purchase over $65 million in gold bullion from the Singapore Precious Metals Exchange.

Co-conspirators Chubarov and Solyannikov, allegedly employed by Moscow-based KSK Group, were identified as playing crucial roles in directing Medvedev's activities. They informed him about incoming wires and directed outgoing transfers, including funds used to purchase gold bullion.

The case is part of the Justice Department's Task Force KleptoCapture, which has, over the last two years, restrained, seized, and obtained judgments to forfeit nearly $700 million in assets from Russian enablers. The ongoing commitment to hold enablers accountable aligns with the collective actions taken by the U.S. government and its allies in response to Russian military aggression.

Medvedev's sentencing is scheduled for May 7 before United States District Judge Thomas W. Thrash, Jr. The public is reminded that the indictment only contains charges, and the defendants are presumed innocent until proven guilty at trial.