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U.S. task force on Russian oligarchs sees evidence of sanctions evasion -unit chief -Breaking

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© Reuters. Andrew Adams, head of U.S. Department of Justice KleptoCapture taskforce is speaking during a Reuters interview in New Y

Sarah N. Lynch and Luc Cohen

NEW YORK (Reuters). The U.S. Department of Justice Task Force targeting Russian oligarch assets found evidence of attempted evasion of sanctions or moves of assets in anticipation of sanctions.

Andrew Adams, a seasoned prosecutor, was selected to direct the “KleptoCapture”, a new force within the department. In an interview, Adams said to Reuters that countries have been cooperating on investigations into oligarchs ill-gotten profits. It could be helping prosecutors find their attempts to hide assets.

Adams explained that “there are efforts being made – some publicly reported- to move, as an example, moving property in the form of boats, planes…into jurisdictions where I believe people have the perception it would be harder to investigate and easier to freeze.”

In an effort to press President Vladimir Putin into stopping the attack on Ukraine, this task force aims to stress Russian oligarchs’ finances.

This unit is named after “kleptocracy,” an abbreviation for corrupt officials who use power to acquire wealth. This includes investigators, prosecutors and analysts from many federal agencies.

Recent rounds of sanctions have been imposed by the United States of America and its allies against Putin and many of his wealthy associates. They also target dozens and scores of Russian companies and government agencies.

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