A Russian man who lived in Buford was indicted in April for allegedly operating an unlicensed money-transmitting business and illegally transmitting more than $150 million.
According to a press release from the U.S. Department of Justice, Feliks Medvedev, 41, was indicted by a federal grand jury on April 11 on 39 counts of money laundering.
“Medvedev allegedly used the American banking system to illegally transmit more than $150 million,” U.S. Attorney Ryan K. Buchanan said. “These types of criminal actions pose a serious danger to the integrity of our financial system.”
Medvedev is accused of registering eight companies in Georgia that were used to transmit over $150 million in a series of 1,300 transactions. The companies were allegedly headquartered in Buford and Dacula, but they did not generate typical business expenses or maintain employees.
"The money was used, in part, to purchase more than $65 million in overseas gold bullion," the press release reads. "Medvedev, a Russian citizen who resides in North Georgia, allegedly transferred millions overseas from multiple bank accounts in Georgia."
The case is being investigated by the Federal Bureau of Investigation. Assistant U.S. Attorneys Christopher J. Huber and Radka T. Nations are prosecuting the case.
“Money laundering is not a victimless crime,” said FBI special agent in charge Keri Farley. “The FBI is committed to the fight against money laundering and to find those who are trying to hide right in our own backyard and illegally send cash overseas.”
