US charges head of Russia's VTB Bank for sanctions violations

The United States on Thursday charged the CEO of Russian-state owned VTB Bank Andrey Kostin and two U.S.-based associates with sanctions violations as part of a flurry of enforcement actions aimed at Russia two years after it invaded Ukraine. Kostin, who was sanctioned by the United States in 2018, is accused of money laundering and sanctions violations through his maintenance of two yachts and a home in the resort town of Aspen, Colorado, according to an indictment in Manhattan federal court.

The United States on Thursday charged the CEO of Russian-state owned VTB Bank Andrey Kostin and two U.S.-based associates with sanctions violations as part of a flurry of enforcement actions aimed at Russia two years after it invaded Ukraine.

Kostin, who was sanctioned by the United States in 2018, is accused of money laundering and sanctions violations through his maintenance of two yachts and a home in the resort town of Aspen, Colorado, according to an indictment in Manhattan federal court. Two associates, Vadim Wolfson and Gannon Bond were arrested in the United States on charges of helping to take care of the Colorado property while concealing that Kostin owned it, U.S. Justice Department officials said.

Kostin, who is believed to be in Russia, remains at large. The indictment was one of five criminal and civil actions the Justice Department unveiled on Thursday as part of an effort by U.S. authorities to crackdown on people with ties to the Kremlin.

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