Feliks Medvedev has been sentenced to three years and ten months in prison for operating an unlicensed money transmitting business that moved over $150 million from Russia. U.S. Attorney Ryan K. Buchanan stated, "Medvedev threatened our national and economic security by illegally transferring and laundering illicit Russian money." He emphasized the commitment of his office to pursue individuals involved in illegal transfers of foreign funds.
Keri Farley, Special Agent in Charge of FBI Atlanta, remarked on the case, saying, "Medvedev used the American banking system to illegally transmit over $150 million." She noted that this sentencing serves as a warning to those who might undermine the security of American financial institutions.
John Johnson, Special Agent in Charge of OEE’s Miami Field Office, highlighted the collaboration between federal partners in targeting illegal financial transactions: "Unlawful use of our financial system undermines the national security and foreign policy of the United States."
Court documents revealed that Medvedev is a Russian citizen living in North Georgia. He registered eight companies purportedly based in Buford and Dacula, Georgia, which were used for over 1,300 transactions totaling more than $150 million. The funds were partly used to purchase overseas gold bullion worth over $65 million. Additionally, Medvedev collaborated with a Russian company directed by multiple Russian nationals to make these illegal transfers.
Following his indictment on September 14, 2023, two alleged co-conspirators—Russian national Alexey Chubarov and his company KSK Group—were sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control under Executive Order 14024. Earlier this year, Chubarov, KSK Group, and another Russian national Lev Solyannikov faced separate indictments for conspiring with Medvedev.
U.S. District Judge Thomas W. Thrash Jr. sentenced Feliks Medvedev to three years and ten months imprisonment followed by three years supervised release and imposed a $10,000 fine after he pleaded guilty on February 7, 2024.
The public is reminded that an indictment contains charges only; defendants are presumed innocent until proven guilty beyond a reasonable doubt at trial.
The investigation was conducted by the Federal Bureau of Investigation and the U.S. Department of Commerce's Bureau of Industry and Security with assistance from the Georgia Bureau of Investigation. Assistant U.S. Attorneys Christopher J. Huber and Norman L. Barnett prosecuted the case.
This case was part of Task Force KleptoCapture's efforts under Justice Department leadership to enforce sanctions against Russia following its invasion of Ukraine.
For further information please contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6016.