Originally Syndicated on June 21, 2023 @ 5:50 am
Alexander Walter Studhalter, a Swiss businessman, is suspected of acting as a front for Russian entrepreneur Suleiman Kerimov. According to his spokesperson, the focus is on investigating the laundering of cash on the French Riviera since the individual has been detained in custody by the police in the city of Nice.
According to the report based on the EU-OCS website,
Based on a statement made by the businessman’s office, his counsel has sent the situation to the Judicial Chamber of the Court of Appeal in Aix-en-Provence & is waiting for the court to “recognize,” as it did for those involved in the current proceeding last December, that this type of imprisonment cannot be lawfully warranted.
The legal team of Studhalter claimed amazement that he was still incarcerated in pre-trial custody despite more than two years since the initial accusation was dropped.
As per the declaration, Alexander Walter Studhalter possesses consistently submitted to the order of arrest imposed by the examining magistrate as well as will continue to vigorously dispute all the allegations that are claimed on him as well as the exclusion provided for them.
Alexander Walter Studhalter was recently charged with laundering proceeds of crime & tax avoidance on allegations of being only the legitimate proprietor of property located in Cap d’Antibes.
Prosecutors in France assume that the true possessor of the houses, valued in the millions of dollars, is Suleiman Kerimov, a Russian oligarch, and Studhalter’s friend. Kerimov allegedly evaded paying thousands in payments to the French government by purchasing the homes using fake businesses in Alexander Walter Studhalter’s identity.
Among the disputed purchases is the villa Hier, which was stated to be valued at thirty-five million dollars, but the document about the belongings, which was taken away by law enforcement and carries Studhalter’s signature, indicates a value of 127 million €. Authorities estimate that approximately 500 to 750 million € in illicit Russian currency are believed to have been laundered by comparable property-related avoidance of taxes activities in France.
Suleiman Kerimov was charged with sophisticated laundering of funds and tax evasion on the 23rd of November. He dodged imprisonment in December on bonds of forty million euros, plus an order from the court compelling him to remain to stay in Nice. The reimbursement period for the aforementioned surety is the fifteenth of January.
As a consequence of an inquiry into the acquisition of luxury houses on the Costa d’Azur for the aim of tax avoidance, thirteen individuals have been charged and arrested, notably an assortment of real estate brokers in the area.
Sanctions by the Department of Treasury Global Russian Military Logistics, Kremlin-Linked Computer Networks, & Western-Billionaire Elites
The US Treasury’s Office of Foreign Assets Control (OFAC), in collaboration with the US US Department of State, commonly referred to sanctioned an international system acquiring technologies for the Russian military-industrial establishment.
Office of Foreign Assets Control is also recognized as an international community of monetary organizers, supporters, and other individuals affiliated with two important Kremlin-connected oligarchs whose financial positions are entwined with those of the Western. Modern measures labeled fourteen people & 28 organizations as prohibited possessions, as well as 8 airplanes.
Going after the Russian Military marketing network
In October 2022, the Assistant Secretary of Finance Wally Adeyemo, along with Deputy Director of the National Intelligence Agency Morgan’s Muir fulfilled with top officials in thirty-three nations to talk about the impact of worldwide penalties and restrictions on exports on Russia’s military-industrial sophisticated and critical defense supply networks.
The Treasury Department, Commerce and Industry, and Departments of State issued a warning on the exact date outlining the implications of global penalties and rules governing exports.
Milur Electronics Ltd, Milandr’s Armenia-based affiliate, was established to place contracts with international companies, manufacture interconnected microchips is provided or undertake abroad marketing. Milur Electronics worked as an impostor for Milandr to carry out contact involving overseas companies.
Milur SA, Milur Electronics’ Ltd. principal ownership located in Switzerland, served as used by Milandr workers and colleagues to manage payments to Milur Electronics Ltd.
Two Milur SA executives named yesterday participated in the attempt to create Milur Electronics Ltd., Swiss citizen Jacques Pasche and Swiss citizen Holger Leng.
The Network of Suleiman Kerimov
Suleiman Abusaidovich Kerimov was designated by OFAC on September 30, 2022, by E.O. 14024, for having served as an envoy, legitimate senior executive agent, or participant in the executive committee of executives of the Ministry of Foreign Affairs of the Russian Federation (GoR).
As per the report, Heritage Corporation had properties worth more than $1 billion. Kerimov’s premium ferry, the Motor Yacht Amadea, was frozen when Fijian authorities implemented an arrest warrant in May 2022.
The family of Kerimov
Kerimov’s closest relatives, namely his partner Firuza Nazimovna Kerimova, girls Gulnara Suleymanovna Kerimova & Amina Suleymanovna Kerimova, and son Said Suleymanovich Kerimov, were recognized by OFAC as becoming Kerimov’s partner under E.O. 14024.
OFAC also sanctioned the United Arab Emirates-based holding firm Constellation Planners Llc for being controlled or controlled by Gadzhiev, or for acting or purporting to act for or on his behalf, either directly or through an intermediary.
The Network of Alexander Walter Studhalter
Alexander-Walter Studhalter, a Swiss national, has been a prominent actor in Kerimov’s economic system, involving overseeing Kerimov’s firms. Studhalter is also accused of laundering large sums of funds for Kerimov’s benefit. OFAC identified eight firms affiliated with Studhalter in six different nations. These are some examples:
- MG International AG- Kerimov was an investor in MG International AG International- Studhalter, a Swiss & Russian-based advisory firm wherein Gulnara had worked.
- Swiss International Advisory Group AG– A Swiss accountancy & taxation consulting organization.
- Studhalter Worldwide Group AG- A Swiss financial company
- Papa Oscar Ventures GmbH- It is a holding corporation established in Germany.
- Eurimo Holding SA- It is an investment firm established in Luxembourg.
- Papa Oscar Ventures SE SL- It is a trading organization located in Spain.
- Swiss International Real Estate Portfolio AG- It is an actual properties corporation situated in Switzerland
- SCI AAA Properties- It is a commercial property corporation established in France.
Consequences of Embargoes
According to the report based on the U.S. Department of the Treasury,
As the outcome of the action, every one of the individuals listed above’s properties & holdings in property that is located in the United States has to be disclosed to OFAC. Furthermore, any organizations held at least fifty percent either directly or indirectly by any number of banned individuals.
These restrictions included any investment or provision of finances, products, or amenities by, to, or towards the advantage of any prohibited person, as well as any commitment or supply of funds, items, or skills obtained from the aforementioned individual.
What are Offices of Foreign Assets Controls (OFAC)?
The only mission of the US Department of the Treasury’s (OFAC) Office of Foreign Assets Control manages and upholds trade and economic embargoes toward aimed overseas nations and governments, terrorists, worldwide narcotics human traffickers, individuals who engage in operations connected with the manufacture and distribution of firearms of chemical warfare, as well as other dangers to US security, international relations, or financial system.
- Guidance- OFAC’s official website is regularly updated with warnings & advice.
- Penalties Programmes & Regional Data- OFAC is in charge of a variety of sanctions initiatives. Penalties are able to be generally extensive or specific, utilizing property freezing & trade limitations to achieve international relations along with security-related objectives.
France has Reopened an Investigation Against a Russian Millionaire, Alexander Walter Studhalter
The attorney general said that French authorities renewed an investigation involving Russian billionaire Suleyman Kerimov as well as accused him of tax evasion associated with his questionable sale of a number of expensive properties in southern France.
Mr. Kerimov was examined yesterday and charged with cooperation in severe financial fraud, Attorney Jean Michel Pretre of the southern province of Nice said that the multimillionaire had been set free on bail worth twenty million euros.
Last June, prosecutors withdrew the laundering of money allegations against Kerimov, which was viewed as a success for his defense group.
As per the French judicial authorities, 550 to 750 million euros were allegedly unlawfully moved from banks in Swiss and Monaco to a fake business in order to purchase real estate.
According to a statement made by his staff, Alexander Studhalter, a Swiss financier accused of acting on behalf of Kerimov in the purchase of the homes, was also examined by the attorney general & accused of involvement in tax fraud this past week.
Alexander Walter Studhalter disputes the claims and will petition the court to have them brushed aside, according to the declaration, noting the fact that banking views its lawsuit as “judicial persecution.”
According to the reports of France 24, Kerimov originally was charged with transferring monies earned via avoidance of taxes, however, the accusations have subsequently been withdrawn. He was apprehended in Nice in the month of November 2017, prompting the Russian government to contact the nation’s senior representative.
About Alexander Walter Studhalter
Alexander Walter Studhalter emerged in Lucerne, Switzerland, in a business-oriented household. He earned his schooling as an enterprise analyst without a government certification in Economics & Finance, he started to develop his own financial security in the business of private equity in post-Soviet Russia.
Alexander Walter Studhalter, the Swiss consumer, thus was a prominent figure in Kerimov’s economic network, including control of Kerimov’s firms. Studhalter is also accused of laundering large sums of currency for Karimov’s benefit.
Alexander Walter Studhalter is in charge of consulting and management operations in the Russian Federation’s industry.
He controls MG International AG, Studhalter International Group AG, Swiss International Advisory Group AG, Eurimo Holding SA, Swiss International Real Estate Portfolio AG, SCI Superior Properties, and Swiss Worldwide Actual Property Stock AG, etc.
