Cash is king for sanctioned Russian, Venezuelan oligarchs
By JOSHUA GOODMAN
Associated Press
MIAMI (AP) — Politically connected billionaires from Russia and Venezuela are at the center of a 49-page criminal indictment that reads like a how-to guide on circumventing U.S. sanctions. Charges were unveiled this week in New York against seven individuals who allegedly used a complex network of Hong Kong shell companies, cryptocurrency and cash drop offs to sidestep the western financial system. Prosecutors allege the conspiracy’s aim was to purchase sensitive U.S. military technology, smuggle illicit Venezuelan oil and launder tens of millions of dollars on behalf of wealthy Russian businessmen.
