US settles Russian money laundering suit linked to Magnitsky
16 May 2017

Prevezon Holdings Limited, a Cyprus-based company, agreed on Friday to pay US$5,896,333.65 to the US Treasury to settle a money laundering and civil forfeiture action uncovered by the deceased Russian lawyer Sergei Magnistsky.

Sergei Magnitsky Prevezon Holdings, owned by Russian businessman Denis Katsyv, and its subsidiaries were prosecuted in New York for laundering some of the US$230 million stolen by an organized crime group involving Russian government officials through a fraudulent tax refund scheme.

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