Russian man in Gwinnett County charged with laundering more than $150 million overseas

WSBTV.com News Staff
·1 min read

A Russian man living in Gwinnett County has been indicted after he was accused of laundering more than $150 million overseas.

On April 11, 41-year-old Feliks Medvedev, 41, of Buford, Georgia, was indicted by a federal grand jury.

Medvedevwas was indicted on one count of operating an unlicensed money transmitting business and 39 counts of money laundering.

Medvedev headquartered the alleged companies in Buford, Georgia, and Dacula, Georgia. However, the companies did not generate typical business expenses or maintain employees, according to a news release.

[DOWNLOAD: Free WSB-TV News app for alerts as news breaks]

The money was partially used to purchase more than $65 million in overseas gold bullion, according to the release.

Medvedev, a Russian citizen who lives in North Georgia, allegedly transferred millions overseas from multiple bank accounts in Georgia.

“Medvedev allegedly used the American banking system to illegally transmit more than $150 million,” said U.S. Attorney Ryan K. Buchanan. “These types of criminal actions pose a serious danger to the integrity of our financial system.”

Officials said Medvedev registered eight companies in Georgia that were used to transmit over $150 million in a series of 1,300 transactions.

“Money laundering is not a victimless crime,” said FBI special agent in charge Keri Farley. “The FBI is committed to the fight against money laundering and to find those who are trying to hide right in our own backyard and illegally send cash overseas.”

TRENDING STORIES:

For further information please contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6016.

[SIGN UP: WSB-TV Daily Headlines Newsletter]

IN OTHER NEWS: