The U.S. is seizing a $325 million megayacht it claims belongs to Russian billionaire Suleiman Kerimov for violations of U.S. laws including money laundering and conspiracy, as it issued a warning to other oligarchs that there’s “no hiding place” for their assets.
Fiji’s High Court granted an order for the U.S. and local authorities to seize the luxury vessel May 3. On Friday, the court refused an application for a temporary stay of the seizure order, according to the country’s Office of the Director of Public Prosecutions. The yacht was turned over to U.S. authorities Thursday local time, it said.
