Georgia Resident Sentenced for Unlicensed Money Transmitting Business
Feliks Medvedev, a 43-year-old resident of Buford, Georgia, has been sentenced to three years and 10 months in prison. Following his prison term, he will undergo three years of supervised release and is required to pay a $10,000 fine. Medvedev was charged with operating an unlicensed money transmitting business that transferred more than $150 million in Russian funds.
According to court documents and statements made during the proceedings, Medvedev is a Russian citizen living in North Georgia. He established eight companies in Georgia, which were utilized to conduct over 1,300 transactions, transferring the substantial sum. Although these companies were supposedly based in Buford and Dacula, Georgia, they lacked standard business expenses and employees. A significant portion of the money, over $65 million, was used to purchase gold bullion overseas. Medvedev facilitated the transfer of millions of dollars from multiple U.S. bank accounts to foreign destinations.
Medvedev’s activities were part of a larger conspiracy involving a Russian company. He collaborated with several Russian nationals from this company to carry out illegal fund transfers. Following his indictment, the U.S. Department of the Treasury’s Office of Foreign Assets Control sanctioned two of Medvedev’s alleged co-conspirators on September 14, 2023, in accordance with Executive Order 14024. These individuals are Russian national Alexey Chubarov and his company, KSK Group. Earlier this year, on February 13, Chubarov, KSK Group, and Russian national Lev Solyannikov faced separate indictments in the Northern District of Georgia for conspiring with Medvedev.
Medvedev was convicted after pleading guilty to the charges on February 7.
The investigation is being conducted by the FBI and the Department of Commerce’s Bureau of Industry and Security. The case is being prosecuted by Assistant U.S. Attorneys Christopher J. Huber and Norman L. Barnett for the Northern District of Georgia.
This case is part of a broader initiative coordinated through the Justice Department’s Task Force KleptoCapture. This interagency law enforcement task force aims to enforce the comprehensive sanctions, export controls, and economic countermeasures imposed by the United States, alongside foreign allies and partners, in response to Russia’s unprovoked military actions in Ukraine. Announced on March 2, 2022, by the Attorney General and led by the Office of the Deputy Attorney General, the task force continues to utilize all available tools and authorities to counter efforts aimed at evading or undermining the collective measures taken by the U.S. government against Russian military aggression.
