US uncovers new money laundering network for russian elite

The US Department of the Treasury has imposed sanctions on individuals associated with the TGR Group, an international network of companies and individuals that facilitated the circumvention of sanctions for the benefit of the russian elite.

The US Treasury Department alleges that the TGR Group is an extensive sanctions evasion and money laundering network that works to conceal the illegal activities of its clients.

This network, controlled by Ukrainian citizen Georgiy Rossi, offers clients services such as money laundering, exchanging cash for cryptocurrency and vice versa, concealing the source of funds, etc.

To support its illegal activities, TGR Group has engaged other companies, such as Smart Group, headed by sanctioned russian Yekaterina Zhdanova.

In addition to Rossi, the new US sanctions include russian Yelena Chirkinian and Latvian Andrejs Bradens, who are affiliated with the TGR Group, as well as TGR Partners (moscow), TGR Corporate Concierge (UK), TGR DWC-LLC (UAE), Siam Expert (Thailand), and Pullman Global Solutions (USA).

In addition, the US Treasury Department has blacklisted a russian citizen, Khadzhi-Murat Magomedov, and Nikita Krasnov, who assisted the aforementioned Zhdanova in laundering the money of the sanctioned russian elite.

‘With the help of the TGR Group, russian elites have attempted to use digital assets, including US dollar-backed stablecoins, to evade US and international sanctions, further enriching themselves and the Kremlin,’ said Bradley Smith, acting US Deputy Treasury Secretary.

Source: US Treasury Department