The USA court allowed the confiscation of $5.4 million of Russian businessman Konstantin Malofeev. The money can be used to restore Ukraine

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02 Feb 2023

This decision is the first decision to confiscate the assets of a Russian oligarch. In late 2022, the U.S. President Joe Biden signed a law allowing the Justice Department to transfer seized assets to the State Department to help Ukraine.


Prosecutors said in court documents late last year that they were entitled to the money in Malofeevʼs account at Denverʼs Sunflower Bank because he tried to transfer it to a business partner in violation of the U.S. sanctions. Since Malofeev did not contest the confiscation requirements, the prosecutorʼs office said that the funds could be confiscated by default.


Sourse: Reuters