Russian Man Sentenced for Running an Illegal Money Transmitting Business

ATLANTA - Feliks Medvedev has been sentenced to three years, 10 months in prison for conducting an unlicensed money transmitting business which transferred over $150 million in Russian money.

"Medvedev threatened our national and economic security by illegally transferring and laundering illicit Russian money," said U.S. Attorney Ryan K. Buchanan. "Medvedev's sentencing is a warning to others that our office is committed to pursuing and prosecuting individuals, both foreign and domestic, who promote the illegal transfer of foreign proceeds."

"Medvedev used the American banking system to illegally transmit over $150 million," said Keri Farley, Special Agent in Charge of FBI Atlanta. "This sentencing should serve as a notice to others who seek to undermine the security of American financial institutions, the FBI will continuously work to uncover the truth and push those committing criminal acts to be held accountable."

"Today's sentencing is a testament to the coordinated efforts between our federal partners effectively targeting illegal financial transactions and money laundering schemes," said John Johnson, Special Agent in Charge of OEE's Miami Field Office. "Unlawful use of our financial system undermines the national security and foreign policy of the United States."

According to U.S. Attorney Buchanan, the charges and other information presented in court: Feliks Medvedev is a Russian citizen who resides in North Georgia. He registered eight companies in Georgia that were used to transmit more than $150 million in over 1,300 transactions. The companies were purportedly headquartered in Buford, Georgia, and Dacula, Georgia, but they did not have typical business expenses or employees. The money was used, in part, to purchase over $65 million in overseas gold bullion. Medvedev transferred millions of dollars overseas from multiple bank accounts in the United States.

As part of the conspiracy, Medvedev worked with a Russian company and was directed by multiple Russian nationals at that company to make illegal transfers of funds. Subsequent to Medvedev's indictment, on September 14, 2023, the U.S. Department of the Treasury's Office of Foreign Assets Control, acting pursuant to Executive Order 14024, sanctioned two of Medvedev's alleged co-conspirators: Russian national Alexey Chubarov and his company KSK Group. Earlier this year, on February 13, 2024, Chubarov, KSK Group, and Russian national Lev Solyannikov were separately indicted in the Northern District of Georgia for conspiring with Medvedev.

Feliks Medvedev, 43, of Buford, Georgia, was sentenced by U.S. District Judge Thomas W. Thrash, Jr. to three years, 10 months in prison to be followed by three years of supervised release. He was also ordered to pay a $10,000 fine. Medvedev was convicted of the charges on February 7, 2024, after he pleaded guilty.

Members of the public are reminded that the indictment only contains charges. The defendants are presumed innocent of the charges and it will be the government's burden to prove the defendants' guilt beyond a reasonable doubt at trial.

This case was investigated by the Federal Bureau of Investigation and the U.S. Department of Commerce, Bureau of Industry and Security with valuable assistance from the Georgia Bureau of Investigation.

Assistant U.S. Attorneys Christopher J. Huber and Norman L. Barnett prosecuted the case.

This case were coordinated through the Justice Department's Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export controls and economic countermeasures that the United States, along with its foreign allies and partners, has imposed in response to Russia's unprovoked military invasion of Ukraine. Announced by the Attorney General on March 2, 2022, and under the leadership of the Office of the Deputy Attorney General, the task force will continue to leverage all of the department's tools and authorities to combat efforts to evade or undermine the collective actions taken by the U.S. government in response to Russian military aggression.

For further information please contact the U.S. Attorney's Public Affairs Office at [email protected] or (404) 581-6016. The Internet address for the U.S. Attorney's Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga.