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Briton arrested in Spain for allegedly helping Russian oligarch evade sanctions

Richard Masters, wanted by US, is charged over scheme involving superyacht Tango owned by Viktor Vekselberg

A British man who is wanted by the US authorities for allegedly helping a Russian oligarch evade sanctions relating to his $90m (£73m) superyacht has been arrested in Spain.

The Briton, named by the US Department of Justice as Richard Masters, 52, has been charged with facilitating a sanctions-evasion and money-laundering scheme involving Tango, a 255ft luxury yacht belonging to Viktor Vekselberg , a Russian oligarch under US sanctions who is an associate of Vladimir Putin.

Another businessman, Vladislav Osipov, 51, a Russian national, has also been charged in the US but remains at large.

Vekselberg, the founder of a Russian energy conglomerate, has been the target of US sanctions since 2018.

Spain’s Guardia Civil police force said a British national had been arrested at Madrid’s Barajas airport in a joint operation with the FBI and Homeland Security Investigation. The US had asked Spain to arrest Masters with a view to extraditing him.

“The arrested British citizen is the owner and administrator of a trading company based in Mallorca that offers maintenance and administrative services to boats,” the Guardia Civil said.

“Among his clients is a Russian citizen who has been prohibited from operating in US markets and with US financial businesses. The yacht in question was used by the aforementioned Russian citizen and his family.”

The force added that the suspect and his company are thought to have earned as much as €800,000 (£707,000) for looking after the oligarch’s yacht.

“After Vekselberg was sanctioned in April 2018, Masters’s company took over the management of Tango, and conspired with others to evade the US sanctions,” the US Department of Justice said in a statement.

“According to the indictment, among other things, Masters devised a scheme to use a false name for the yacht, ‘the Fanta’, in order to hide from financial institutions that payments in US dollars were ultimately for the benefit of Tango and Vekselberg.”

As a result, the statement added, US financial institutions processed “hundreds of thousands of dollars of transactions” relating to the Tango that would not have been permitted had they known of Vekselberg’s involvement.

Matthew Graves, the US attorney for the District of Columbia, where the charges were filed, said those trying to circumvent sanctions against the oligarchs who support the Putin regime were flouting US law.

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“The United States will not allow its financial institutions and persons to be manipulated or defrauded for the purposes of benefiting those supporting an illegal war,” he added.

Andrew Adams, the director of the Department of Justice’s department KleptoCapture taskforce, said Masters had to face the “consequences” of his actions.

“Corporations and executives have a choice,” he said. “They can participate in the global effort to uproot corruption, sanctions violations and money laundering, and enjoy the benefits of prompt and fulsome cooperation; or they can, as Osipov and Masters are alleged to have done, attempt to shield themselves and their clients behind a veil of fraud.”

Adams added: “These men made their decisions, and now face the consequences of a failed attempt to profit through, rather than standing against, a sophisticated, transnational criminal enterprise.”

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• January 22, 2023
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Russia sanctions: Two indicted, one arrested, in Tango yacht case

Back in April last year, U.S. and Spanish authorities seized the $90 million yacht Tango owned by sanctioned Russian oligarch Viktor Vekselberg. On Friday, indictments were unsealed in the U.S. District Court for the District of Columbia charging two men, Vladislav Osipov, 51, a Russian national, and Richard Masters, 52, a U.K.national,, with facilitating a sanctions evasion and money laundering scheme in relation to the ownership and operation of the Tango.

VIDEO: U.S. and Spanish authorities seize Russian oligarch’s yacht

Masters has been provisionally arrested by Spain’s Guardia Civil and is being held pending extradition proceedings. An arrest warrant against Osipov is outstanding.

According to the indictments, despite U.S. sanctions issued against Vekselberg in April 2018, Osipov and Masters facilitated the operation of Tango through the use of U.S. companies and the U.S. financial system, attempting to obfuscate Vekselberg’s involvement in the vessel. Osipov, an employee of Vekselberg who functioned as a property manager for Tango, is alleged to have designed a complicated ownership structure of shell companies to hide Vekselberg’s ownership of the yacht, despite that Vekselberg designed the yacht, was the sole user, and was the ultimate beneficial owner.

“The indictment alleges that both defendants used a variety of techniques to mask ownership of the Motor Yacht Tango in violation of U.S. law,” said Special Agent in Charge Alvin M. Winston of the FBI Minneapolis Field Office. “Together with the Justice Department’s KleptoCapture Task Force, the FBI will hold accountable those who assist Russian oligarchs in their efforts to hide assets and violate sanctions. We thank our international partners who helped facilitate the arrest of Richard Masters in Spain earlier today.”

As alleged, Masters ran a yacht management company in Palma de Mallorca, Spain. After Vekselberg was sanctioned in April 2018, Masters’s company took over the management of Tango , and conspired with others to evade the U.S. sanctions. According to the indictment, among other things, Masters devised a scheme to use a false name for the yacht, “the Fanta ,” in order to hide from financial institutions that payments in U.S. dollars were ultimately for the benefit of Tango and Vekselberg. As a result of this obfuscation, U.S. financial institutions processed hundreds of thousands of dollars of transactions for Tango that they otherwise would not have permitted had they known of Vekselberg’s involvement. Additionally, these payments and Vekselberg’s involvement were not reported to the Department of the Treasury.

WORK AROUNDS TO AVOID SANCTIONS

Further, according to the indictment, Osipov and Masters advised and enabled Tango employees to continue to do business with numerous U.S. companies, using various workarounds to avoid sanctions, such as payments in other currencies and through third parties.

“As a result of these schemes, the working mechanisms of Tango , to include its internet, technology, weather forecasting and computing systems, as well as the trappings of Tango , including its satellite television, luxury goods, and teleconferencing software, were all U.S.-origin products and services supplied by U.S. companies, for the benefit of Vekselberg,” says the Department of Justice. “The efforts of these facilitators permitted Tango to continue to operate as a luxury yacht with the full array of services and luxury goods available to it, supported by hundreds of thousands of dollars of illegally-obtained U.S. services and U.S. financial transactions, and all for the benefit of Vekselberg.”

“Today’s indictments and the arrest executed by Spanish law enforcement demonstrate the FBI’s continued focus on tracking down and holding accountable those who assist sanctioned Russian oligarchs,” said FBI Deputy Director Paul Abbate. “The FBI, along with our international partners, will continue to aggressively investigate and pursue anyone who facilitates the corrupt practices of others, placing our institutions at risk.”

“The Department of Justice has been clear. Corporations and executives have a choice: they can participate in the global effort to uproot corruption, sanctions violations, and money laundering, and enjoy the benefits of prompt and fulsome cooperation; or they can, as Osipov and Masters are alleged to have done, attempt to shield themselves and their clients behind a veil of fraud,” said Director Andrew Adams of Task Force KleptoCapture. “These men made their decisions, and now face the consequences of a failed attempt to profit through, rather than standing against, a sophisticated, transnational criminal enterprise.”

Masters indictment

Osipov indictment

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Briton arrested after 'hiding Russian yacht by changing its name from Tango to Fanta'

Richard Masters and another man allegedly hid large amounts of cash through a multi-million dollar yacht scheme for an oligarch's benefit.

News reporter @Reemul_B

Wednesday 25 January 2023 11:18, UK

A British man has been arrested after allegedly helping an oligarch with ties to Russian President Vladimir Putin evade sanctions.

Richard Masters, 52, was arrested in Spain on Friday, though his co-accused Vladislav Osipov remains at large.

The pair, charged separately, reportedly helped Russian-Cypriot oligarch Viktor Vekselberg evade US sanctions.

The scheme was allegedly facilitated through Mr Vekselberg's 255ft yacht Tango, which is thought to be worth $90m (£73m).

The US Department of Justice (DoJ) claimed Masters ran a yacht company in Palma de Mallorca and managed Tango after initial sanctions were imposed on Mr Vekselberg in 2018.

Masters allegedly called Mr Vekselberg's yacht "the Fanta" to hide thousands of dollars from banks that would ultimately benefit the oligarch.

It is claimed Masters and Russian-Swiss Osipov masked Mr Vekselberg's involvement with the yacht, with Osipov using shell companies to hide his ownership.

The US Department of Justice (DoJ) said both have been charged with multiple offences: Conspiracy to defraud the US and to commit offences against the US; violating the International Emergency Economic Powers Act (IEEPA); and money laundering.

Mr Vekselberg faced US sanctions in April 2018 following Russia's annexation of Crimea.

Tougher measures were imposed on him in March last year after Mr Putin's invasion of Ukraine .

The UK, Australia and Poland also seized Mr Vekselberg's assets in March, imposing travel bans, with the DoJ seizing Tango in Spain a month after.

US attorney Matthew Graves said: "Facilitators of sanctions evasion enable the oligarchs supporting Vladimir Putin's regime to flout US law.

"The United States will not allow its financial institutions and persons to be manipulated or defrauded for the purposes of benefitting those supporting an illegal war."

Andrew Adams, director of the Task Force KleptoCapture department, said Masters had to face the "consequences" of his actions.

He explained that corporations and executives "have a choice" of either fighting against "corruption, sanctions violations, and money laundering" or choosing the path of the accused.

"They can as Osipov and Masters are alleged to have done, attempt to shield themselves and their clients behind a veil of fraud," he added.

"These men made their decisions, and now face the consequences of a failed attempt to profit through, rather than standing against, a sophisticated, transnational criminal enterprise."

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U.S. charges two men with facilitating sanctions evasion of Russian oligarch's yacht

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Reporting by Kanishka Singh in Washington; Editing by Leslie Adler and David Gregorio

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Kanishka Singh is a breaking news reporter for Reuters in Washington DC, who primarily covers US politics and national affairs in his current role. His past breaking news coverage has spanned across a range of topics like the Black Lives Matter movement; the US elections; the 2021 Capitol riots and their follow up probes; the Brexit deal; US-China trade tensions; the NATO withdrawal from Afghanistan; the COVID-19 pandemic; and a 2019 Supreme Court verdict on a religious dispute site in his native India.

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The Department of Justice charged 2 men over helping to conceal Russian oligarch Viktor Vekselberg's ownership of a $90 million superyacht

• Richard Masters and Vladislav Osipov were charged by the Department of Justice for sanctions evasion.
• The US has accused the pair of trying to conceal a sanctioned oligarch's ownership of a superyacht.
• Masters, 52, used a fake name for Viktor Vekselberg's "Tango," calling it the "Fanta," per DoJ.

The Department of Justice has accused two men of trying to conceal a Russian oligarch's ownership of a 255-foot superyacht, according to a statement issued on Friday.

They're accused of helping longtime Putin ally Viktor Vekselberg, who was sanctioned by the US in 2018 over alleged election interference, to evade sanctions.

Prosecutors said Vladislav Osipov and Richard Masters had facilitated the operation of Vekselberg's $90 million yacht that was seized by Spanish authorities  last April. 

Masters, a 52-year-old UK national, was arrested in Spain on Friday, following an extradition request from the US.

An arrest warrant has also been issued for 51-year-old Osipov, a dual Russian/Swiss national who is a former employee of Vekselberg.

Related stories

Both have been charged separately with conspiracy to defraud the US and to commit offenses against the US, violating the International Emergency Economic Powers Act, and money laundering. 

Osipov designed a "complicated ownership structure of shell companies" to mask Vekselberg's ownership of the boat, called "Tango," according to the DoJ . Meanwhile, Masters' company in Palma de Mallorca, Spain, took over management of the yacht and conspired to evade sanctions imposed Vekselberg.

Masters even devised a fake name for Vekselberg's "Tango" — calling it the "Fanta." Both are the names of sodas sold in the UK.

Osipov and Masters allowed the "Tango" to continue operating "as a luxury yacht with the full array of services and luxury goods available to it," the DoJ said in its statement . The yacht's operation was "supported by hundreds of thousands of dollars of illegally-obtained US services and US financial transactions, and all for the benefit of Vekselberg."

Representatives of Osipov and Masters could not be contacted for comment, Reuters reported .

FBI deputy director Paul Abbate said: "Today's indictments and the arrest executed by Spanish law enforcement demonstrate the FBI's continued focus on tracking down and holding accountable those who assist sanctioned Russian oligarchs." 

Matthew Graves, US Attorney for the District of Columbia, said: "The United States will not allow its financial institutions and persons to be manipulated or defrauded for the purposes of benefiting those supporting an illegal war." 

Homeland Security agent Ivan Arvelo added : "The message is clear: Putin's cronies will find no succor in their riches and those that illegally enable such lifestyles will be called to justice."

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Pair charged with hiding Russian oligarch’s ties to yacht

FILE - A Civil Guard stands by the yacht called Tango in Palma de Mallorca, Spain, April 4, 2022. Two businessmen have been charged with trying to conceal a sanctioned Russian oligarch’s ownership of the luxury yacht seized in Spain last year by the U.S. government, the Justice Department said Friday, Jan. 20, 2023. (AP Photo/Francisco Ubilla, File)

FILE - Civil Guards accompany U.S. FBI agents and a U.S.Homeland Security agent from the yacht called Tango in Palma de Mallorca, Spain, April 4, 2022. Two businessmen have been charged with trying to conceal a sanctioned Russian oligarch’s ownership of the luxury yacht seized in Spain last year by the U.S. government, the Justice Department said Friday, Jan. 20, 2023. (AP Photo/Francisco Ubilla, File)

FILE - President of the Skolkovo Foundation Viktor Vekselberg speaks on the sidelines of the St. Petersburg International Economic Forum in St.Petersburg, Russia, June 17, 2022. Two businessmen have been charged with trying to conceal Vekselberg’s ownership of a luxury yacht seized in Spain last year by the U.S. government, the Justice Department said Friday, Jan. 20, 2023. (AP Photo/Dmitri Lovetsky, File)

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WASHINGTON (AP) — Two businessmen have been charged with trying to conceal a sanctioned Russian oligarch’s ownership of a luxury yacht seized in Spain last year by the U.S. government, the Justice Department said Friday.

An arrest warrant has been issued for Vladislav Osipov, a dual Russian and Swiss national who the Justice Department says was an employee of Viktor Vekselberg, a billionaire Russian oligarch and ally of Russian president Vladimir Putin.

Another defendant, Richard Masters, was arrested by Spain at the request of U.S. authorities. He’s a British businessman who ran a yacht management company in Palma de Mallorca, Spain — where Vekselberg’s yacht, Tango, was seized last April.

Prosecutors allege Vekselberg bought the Tango in 2011 and has owned it since then, though they believe he has used shell companies to try to obfuscate his ownership and to avoid financial oversight. He was sanctioned in 2018. All of Vekselberg’s assets in the United States are frozen and American companies are barred from doing business with him and his entities.

The Justice Department says the men worked together to hide Vekselberg’s ownership of the yacht from the U.S. government, even developing a fake name for the vessel, as a way to evade sanctions and to illegally collect hundreds of thousands of dollars in U.S services and financial transactions.

They are charged in federal court in the District of Columbia with crimes including money laundering and violating the International Emergency Economic Powers Act. It was not immediately clear if they had lawyers who could speak on their behalf.

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U.S. charges two men with facilitating sanctions evasion of Russian oligarch's yacht

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By Kanishka Singh

WASHINGTON (Reuters) -The U.S. government said on Friday it charged two businessmen, one Russian and one British, with allegedly facilitating a sanctions evasion and money laundering scheme in relation to a $90 million yacht of billionaire Russian oligarch Viktor Vekselberg .

Vladislav Osipov, 51, a Russian national, and Richard Masters, 52, a UK national, were charged in indictments unsealed in a U.S. court on Friday with conspiracy to defraud the United States and to commit offenses against the United States, the U.S. Justice Department said in a statement.

The United States requested Spain to arrest Masters for extradition, the Justice Department said, adding his arrest was executed on Friday and an arrest warrant against Osipov was outstanding. Reuters could not reach representatives of Osipov and Masters for comment.

Washington imposed sanctions on Vekselberg in 2018 over alleged Russian interference in the 2016 U.S. election, and in 2022 over his ties to Russian President Vladimir Putin after Russia's invasion of Ukraine. The Kremlin denies interfering in the election and calls its actions in Ukraine a "special military operation."

Spanish police last year impounded a superyacht belonging to Vekselberg on behalf of U.S. authorities. Valued at around $90 million, the 78-metre (255 ft) long "Tango" was seized in a shipyard on the Mediterranean island of Mallorca.

The indictment alleges that Masters ran a yacht management company in Spain, which took over the management of Tango after Vekselberg was sanctioned in April 2018, and conspired with others to evade the U.S. sanctions.

Osipov, an employee of Vekselberg, designed a complicated ownership structure of shell companies to hide Vekselberg’s ownership of the yacht, the Justice Department alleged.

Vekselberg owned the Renova group of companies, which operate in Russia's energy sector, according to the U.S. Treasury Department, which enforces sanctions.

(Reporting by Kanishka Singh in Washington; Editing by Leslie Adler and David Gregorio)

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Brit arrested in Spain for allegedly helping Putin’s oligarch hide 255-foot yacht Tango - by renaming it Fanta

Richard masters, 52, was arrested by the spanish guardia civil on friday, though his russian-swiss co-accused vladislav osipov remains at large, article bookmarked.

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A British man has been arrested in Spain for extradition to the US for allegedly helping an oligarch with close ties to Russian President Vladimir Putin evade sanctions.

The US Department of Justice (DoJ) said in a statement that Richard Masters , 52, was arrested by the Spanish Guardia Civil last Friday, though his Russian- Swiss co-accused Vladislav Osipov remains at large.

The pair are charged separately, in indictments unsealed in the US District Court in the District of Columbia , with facilitating a scheme for oligarch Viktor Vekselberg connected to his 90-million-dollar (£73 million), 255-foot yacht Tango.

Mr Masters is alleged to have devised a scheme that involved calling the yacht “the Fanta” to hide from banks the hundreds of thousands of pounds in payments in US currency that were ultimately to Mr Vekselberg’s benefit.

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The DoJ said the pair are charged with conspiracy to defraud the US and to commit offences against the US, violating the International Emergency Economic Powers Act (IEEPA), and money laundering.

The US imposed sanctions against Mr Vekselberg in April 2018 following Russia’s annexation of Crimea , with Washington strengthening the measures in March 2022 following Mr Putin’s invasion of Ukraine.

The UK, Australia and Poland also joined Washington in March in seizing Mr Vekselberg’s assets and imposing travel bans, with the DoJ the next month seizing Tango in Spain.

Civil Guards accompany U.S. FBI agents and a U.S.Homeland Security agent from the yacht called Tango

The department alleges Mr Masters ran a yacht company in Palma de Mallorca, Spain, which he used to manage Tango after initial sanctions were imposed in 2018.

It is claimed Mr Masters and Mr Osipov used US firms and the American financial system to mask Mr Vekselberg’s involvement with the vessel, with Mr Osipov using a complex structure of shell companies to hide ownership.

US Attorney Matthew Graves said: “Facilitators of sanctions evasion enable the oligarchs supporting Vladimir Putin’s regime to flout US law.

“The United States will not allow its financial institutions and persons to be manipulated or defrauded for the purposes of benefitting those supporting an illegal war.”

These men made their decisions, and now face the consequences of a failed attempt to profit through...a sophisticated, transnational criminal enterprise

Director Andrew Adams of department task force KleptoCapture said Mr Masters had to face the “consequences” of his actions.

“The Department of Justice has been clear. Corporations and executives have a choice: They can participate in the global effort to uproot corruption, sanctions violations, and money laundering, and enjoy the benefits of prompt and fulsome cooperation; or they can, as Osipov and Masters are alleged to have done, attempt to shield themselves and their clients behind a veil of fraud,” he said.

“These men made their decisions, and now face the consequences of a failed attempt to profit through, rather than standing against, a sophisticated, transnational criminal enterprise.”

The Americans’ international partners were thanked for apprehending Masters.

FBI special agent in charge Alvin Winston said: “The FBI will hold accountable those who assist Russian oligarchs in their efforts to hide assets and violate sanctions. We thank our international partners who helped facilitate the arrest of Richard Masters in Spain earlier today.”

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British man 'hid' Russian billionaire's £72million megayacht by changing its name from 'Tango' to 'Fanta'

Us officials said they would not allow the country to be manipulated in order to benefit 'those supporting an illegal war'.

Daisy Phillipson

A British man has been charged with hiding a Russian oligarch’s $90million (£72million) megayacht from US sanctions.

According to the US Department of Justice, UK businessman Richard Masters, 52, was arrested by the Spanish Guardia Civil on Friday (20 January).

He and Russian-Swiss national Vladislav Osipov, 51, have been charged in separate unsealed indictments with conspiracy to defraud and to commit offences against the US , violating the International Emergency Economic Powers Act (IEEPA).

They have also been charged with money laundering in relation to the 255-foot luxury yacht named 'Tango', owned by Russian millionaire Viktor Vekselberg.

The justice department went on to detail the alleged offences of Masters, who runs a yacht management company in Palma de Mallorca, Spain.

Since Vekselberg was sanctioned in April 2018, the Brit is accused of giving the boat the fake name of 'Fanta' in a bid to hide the fact that US money was ultimately contributing to Tango and its real owner.

Both Osipov and Masters are alleged to have enabled the employees of the motor yacht to continue doing business with numerous American companies supplying services such as its internet connection, weather forecasting and computer systems and luxury goods.

Ultimately, American institutions ended up processing hundreds of thousands of dollars in transactions that would not have been permitted had they known the true identity of the yacht and its owner.

US Attorney for the District of Columbia, Matthew Graves, said in a statement that those involved in evading sanctions were able to support ' Vladimir Putin’s regime to flout US law' amid Russia's ongoing attack on Ukraine.

"The United States will not allow its financial institutions and persons to be manipulated or defrauded for the purposes of benefitting those supporting an illegal war," he said.

Ivan Arvelo, SAC of the Homeland Security Investigations New York Field Office, added: "Russian oligarchs are the product of an ecosystem of corruption that abuses rule-of-law-based monetary structures to enrich themselves with the luxury trappings and lifestyles that everyday people only dream of.

"All the while as thousands of Ukrainians are homeless due to Russia’s unlawful invasion.

"As stewards of the American financial system, HSI will not stand idly by as US dollars are used by oligarch criminal networks to operate and maintain these high value symbols of corruption."

He continued: "Last year, working with our partners at the Justice Department and FBI, we removed the yacht Tango from an oligarch’s portfolio and with today’s actions we have followed through on our promise of accountability to those that conduct illicit financial transactions on behalf of the oligarchs.

"The message is clear: Putin’s cronies will find no succor in their riches and those that illegally enable such lifestyles will be called to justice."

Adding to this, SOC of the FBI Minneapolis Field Office, Alvin Winston, stated: "The indictment alleges that both defendants used a variety of techniques to mask ownership of the Motor Yacht Tango in violation of US law .

"Together with the Justice Department’s KleptoCapture Task Force, the FBI will hold accountable those who assist Russian Oligarchs in their efforts to hide assets and violate sanctions.

"We thank our international partners who helped facilitate the arrest of Richard Masters in Spain earlier today."

The FBI is investigating the case and an arrest warrant against Osipov is still outstanding.

Topics:  Russia , Ukraine , Crime , World News , Vladimir Putin , Money

Daisy graduated from Kingston University with a degree in Magazine Journalism, writing a thesis on the move from print to digital publishing. Continuing this theme, she has written for a range of online publications including Digital Spy and Little White Lies, with a particular passion for TV and film. Contact her on [email protected]

@ DaisyWebb77

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Arrest and Criminal Charges Against British and Russian Businessmen for Facilitating Sanctions Evasion of Russian Oligarch’s $90 Million Yacht

Yacht Previously Seized and One Arrest Today by Spain at Request of United States

            WASHINGTON – Two businessmen - Vladislav Osipov, 51, a dual Russian and Swiss national, and Richard Masters, 52, a United Kingdom national, are charged in separate indictments, unsealed today in U.S. District Court in the District of Columbia, with facilitating a sanctions evasion and money laundering scheme in relation to the ownership and operation of the Motor Yacht (M/Y) Tango (International Maritime Organization number 1010703), a $90 million, 255-foot luxury yacht owned by sanctioned Russian oligarch Viktor Vekselberg. The defendants are charged with conspiracy to defraud the United States and to commit offenses against the United States, violating the International Emergency Economic Powers Act (IEEPA), and money laundering. The United States requested that the Kingdom of Spain provisionally arrest Masters for purposes of extradition. The arrest was executed by the Spanish Guardia Civil today. An arrest warrant against Osipov is outstanding.

            The charges were announced by United States Attorney Matthew M. Graves, Director Andrew Adams of Task Force KleptoCapture, FBI Special Agent in Charge Alvin M. Winston Sr. of the Minneapolis Field Office, and Homeland Security Investigations Special Agent in Charge Ivan J. Arvelo of HSI’s New York Field Office.

            According to the indictment, despite U.S. sanctions issued against Vekselberg in April 2018, Osipov and Masters facilitated the operation of Tango through the use of U.S. companies and the U.S. financial system, attempting to obfuscate Vekselberg’s involvement in the vessel. Osipov, an employee of Vekselberg who functioned as a property manager for Tango, designed a complicated ownership structure of shell companies to hide Vekselberg’s ownership of the yacht, despite that Vekselberg designed the yacht, was the sole user, and was the ultimate beneficial owner.

            Masters ran a yacht management company in Palma de Mallorca, Spain. After Vekselberg was sanctioned in April 2018, Masters’s company allegedly took over the management of Tango and conspired with others to evade the U.S. sanctions. According to the indictment, among other things, Masters devised a scheme to use a false name for the yacht, “the Fanta,” in order to hide from financial institutions that payments in U.S. dollars were ultimately for the benefit of Tango and Vekselberg. As a result of this obfuscation, U.S. financial institutions processed hundreds of thousands of dollars of transactions for Tango that they otherwise would not have permitted had they known of Vekselberg’s involvement in the financial transaction. Further, these payments and Vekselberg’s involvement therein were not reported to the Department of the Treasury.

            Additionally, according to the indictment, Osipov and Masters advised and enabled Tango employees to continue to do business with numerous U.S. companies, using various workarounds to avoid sanctions, such as payments in other currencies and through third parties. As a result of these schemes, the working mechanisms of Tango, to include its internet, technology, weather forecasting, and computing systems, as well as the trappings of Tango, including its satellite television, luxury goods, and teleconferencing software, were all U.S.-origin products and services supplied by U.S. companies, for the benefit of Vekselberg. The efforts of these facilitators permitted Tango to continue to operate as a luxury yacht with the full array of services and luxury goods available to it, supported by hundreds of thousands of dollars of illegally-obtained U.S. services and U.S. financial transactions, and all for the benefit of Vekselberg.

            “Facilitators of sanctions evasion enable the oligarchs supporting Vladimir Putin’s regime to flout U.S. law,” said U.S. Attorney Graves. “The United States will not allow its financial institutions and persons to be manipulated or defrauded for the purposes of benefitting those supporting an illegal war.” 

            “The Department of Justice has been clear. Corporations and executives have a choice: they can participate in the global effort to uproot corruption, sanctions violations, and money laundering, and enjoy the benefits of prompt and fulsome cooperation; or they can, as Osipov and Masters are alleged to have done, attempt to shield themselves and their clients behind a veil of fraud,” said Director Adams of Task Force KleptoCapture. “These men made their decisions, and now face the consequences of a failed attempt to profit through, rather than standing against, a sophisticated, transnational criminal enterprise.”

            “The indictment alleges that both defendants used a variety of techniques to mask ownership of the Motor Yacht Tango in violation of U.S. law,” said FBI Special Agent in Charge Winston. “Together with the Justice Department’s KleptoCapture Task Force, the FBI will hold accountable those who assist Russian Oligarchs in their efforts to hide assets and violate sanctions. We thank our international partners who helped facilitate the arrest of Richard Masters in Spain earlier today."

            “Russian oligarchs are the product of an ecosystem of corruption that abuses rule-of-law- based monetary structures to enrich themselves with luxury trappings and lifestyles.” said HSI Special Agent in Charge Arvelo. “Today’s actions have demonstrated our commitment to hold those that conduct illicit transactions on behalf of the oligarchs accountable.”

            On April 4, 2022, Spanish law enforcement executed a Spanish court order freezing Tango. The Spanish acted following a request from the Department of Justice that it assist with the execution of a seizure warrant, issued in March 2022 by the  U.S. District Court for the District of Columbia, which alleged that Tango was subject to forfeiture based on violations of U.S. bank fraud, money laundering, and sanctions statutes.

            The case is being investigated by the FBI’s Minneapolis Field Office. Valuable assistance has been provided by the Homeland Security Investigation’s New York Field Office and the Spanish Guardia Civil - Jefatura de Informacion - Unidad Central Especial Numero III (UCE-III).  The case is being prosecuted by Assistant U.S. Attorney Karen P. Seifert, with valuable assistance provided by Assistant U.S. Attorneys Rajbir Datta and Maeghan Mikorski, Paralegals Brian Rickers and Jorge Casillas, and Legal Assistant Jessica McCormick, all of the United States Attorney’s Office for the District of Columbia. The Justice Department’s Office of International Affairs provided significant assistance in working with the Spanish authorities throughout this matter.

            The case has been coordinated through the Justice Department’s Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export restrictions, and economic countermeasures that the United States has imposed, along with its allies and partners, in response to Russia’s unprovoked military invasion of Ukraine. Announced by the Attorney General on March 2 and under the leadership of the Office of the Deputy Attorney General, the task force will leverage all the Department’s tools and authorities against efforts to evade or undermine the economic actions taken by the U.S. government in response to Russian military aggression.

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By SuperyachtNews 23 Jan 2023

It takes two to tango

The arrest of richard masters and vladislav osipov for facilitating sanctions evasion has sent shockwaves through the industry….

On Friday, the 20th of January, the United States Department of Justice announced that they had arrested well-known industry figure Richard Masters, Founder of Master Yachts, and businessman Vladislav Osipov, for facilitating a sanctions evasion and money laundering scheme. The allegations are in relation to the 77m M/Y Tango which is reportedly owned by the Russian Oligarch Viktor Vekselberg. The United States requested that the Kingdom of Spain provisionally arrest Masters for purposes of extradition.

The defendants are charged with conspiracy to defraud the United States and to commit offences against the United States, violating the International Emergency Economic Powers Act (IEEPA), and money laundering. However, it should also be noted that an indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

According to various sources, The Guardia Civil arrested Masters in the early hours of Friday morning and was flown to Madrid where he underwent questioning. Richard Masters is yet to be extradited to the US and his company Master Yachts has not yet offered a statement to the press.

The news all but confirms that the great yacht hunt is far from over. The FBI appear to be relentless in their pursuit of anyone who appears to be in business with any high net-worth Russian individuals, regardless of how many degrees of separation lie between them and Vladamir Putin. With that being said, the yachting industry has continued to deal with sanctioned individuals despite numerous warnings from Western governments.

The political messaging of the sanction fallout has not just been about sanctioning Russians because of the war in Ukraine - this is merely a smaller part of the story wrapped up in a bigger conversation about kleptocrats and their ties with the West. The US Justice Department’s special task force ‘Kleptocapture’ implies that they are seeking to bring justice to anyone who uses their power to steal countries' resources. However, so far, the task force has been primarily focused on those who are involved with high-profile, wealthy Russians.

Many of those operating in the sphere of the industry are arguing that politicians are turning a blind eye to struggling businesses and blue-collar workers in favour of positive PR and self-interest. The sanction fallout is morally correct, but its execution has been strategically flawed and incredibly fast-paced. Rumours have circulated about various renowned businesses continuing to work with Oligarch clients and going as far as relocating to places such as The Middle East under a new name in order to continue to operate. While Masters and Osipov are amongst the first to be arrested, it is unlikely that they will be the last.

FBI Deputy Director Paul Abbate stated, “The FBI, along with our international partners, will continue to aggressively investigate and pursue anyone who facilitates the corrupt practices of others, placing our institutions at risk.” 

According to the indictment, despite U.S. sanctions issued against Vekselberg in April 2018, Osipov and Masters facilitated the operation of Tango through the use of U.S. companies and the U.S. financial system, attempting to obfuscate Vekselberg’s involvement in the vessel. Spanish law enforcement executed a Spanish court order freezing Tango until April 4, 2022

Masters boldly used the name “the Fanta,” in order to hide from financial institutions. This resulted in the U.S. financial institutions processing hundreds of thousands of dollars of transactions for Tango that they otherwise would not have permitted had they known of Vekselberg’s involvement in the financial transaction. 

Additionally, according to the indictment, Osipov and Masters advised and enabled Tango employees to continue to do business with numerous U.S. companies, using various workarounds to avoid sanctions, such as payments in other currencies and through third parties. As a result of these schemes, the working mechanisms of Tango, including its internet, technology, weather forecasting and computing systems, as well as the trappings of Tango, including its satellite television, luxury goods, and teleconferencing software, were all U.S.-origin products and services supplied by U.S. companies, for the benefit of Vekselberg. 

Whatever an individual's moral stance is on the fairness of these arrests, it appears that the department of justice is using a relatively black-and-white interpretation of the sanctions law, and are not unwilling to exercise the full might of the FBI. The ultimate outcome of Richard Masters and Vladislav Osipov’s court case is yet to be realised, however, it's fair to say that a warning shot has been fired across the bow of the industry.

According to The Mallorca Daily Bulletin , The US authorities had asked the court for his immediate extradition, but the judge, Alejandro Abascal, has not granted this. The prosecutor in the case requested that he be ordered to prison, however, the judge didn't accept this either, so around 2 pm on Saturday his release was decreed.

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• Breaking News
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British man is arrested in Spain and charged with trying to help Putin's billionaire oligarch crony hide $90M megayacht Tango from US sanctions

• Richard Masters, 52, was arrested Friday and charged with evading US sanctions
• Masters ran a yacht management company in Palma de Mallorca, Spain
• US officials say he tried to hide Viktor Vekselberg's $90M megayacht, the Tango
• The 255-foot luxury yacht was seized by FBI and Spanish authorities last April

By Keith Griffith For Dailymail.com

Published: 17:27 EDT, 20 January 2023 | Updated: 17:56 EDT, 20 January 2023

View comments

Richard Masters, 52, was arrested on Friday on charges of violating US sanctions laws

A British citizen has been arrested in Spain on US criminal charges alleging that he helped a billionaire Russian oligarch evade sanctions relating to his $90 million megayacht.

Richard Masters, 52, was arrested on Friday by the Spanish Guardia Civil and faces extradition to the US on charges that he tried to hide Viktor Vekselberg's 255-foot luxury yacht , the Tango, from authorities.

An unsealed indictment accuses Masters, who runs a yacht management company, of concocting a phony name, 'the Fanta,' for the Tango in order to hide the yacht's connection to Vekselberg from financial institutions. 

Despite the alleged scheme, the Tango was seized by the FBI last April in Palma de Mallorca, the capital of Spain's Balearic Islands and a playground and tax haven for the ultra-rich. 

Masters faces extradition to the US on charges that he tried to hide sanctioned oligarch Viktor Vekselberg's 255-foot luxury yacht, the Tango (above), from authorities

Vekselberg (right) is a billionaire and close ally of Russian President Vladimir Putin who heads the Moscow-based Renova Group

Also charged in connection with the alleged plot was Vladislav Osipov, 51, a Russian national with dual Swiss citizenship, who remains at large. 

Masters and Osipov are both charged with conspiracy to defraud the United States and to commit offenses against the United States, violating sanctions laws, and money laundering. 

Vekselberg is a billionaire and close ally of Russian President Vladimir Putin who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets.

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Since 2018, Vekselberg's assets in the US have been frozen, and US companies are forbidden from doing business with him and his entities, but fresh sanctions targeting his yacht were enacted following Russia's invasion of Ukraine last year.

Masters is the founder and director of Master Yachts, a yacht management company in Palma de Mallorca.

The company's website boasts that it is 'renowned for its highly ethical, no-nonsense and pragmatic approach' and committed to 'transparency and integrity'.

Masters is the founder of Master Yachts, a yacht management company in Palma de Mallorca that claims to be 'renowned for its highly ethical, no-nonsense and pragmatic approach'

A Civil Guard stands by the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022 as FBI agents search and seize the vessel

A U.S. federal agent and two Civil Guards board the yacht called Tango in Palma de Mallorca, Spain, on April 4, 2022

However, US prosecutors allege that after Vekselberg was sanctioned in April 2018, Masters's company took over the management of Tango and conspired to evade US sanctions. 

According to the indictment, Masters cooked up the fake yacht name 'the Fanta'

According to the indictment, Masters cooked up the fake name 'the Fanta' and used various workarounds to avoid sanctions, such as payments in other currencies and through third parties.

As a result, the trappings of Tango, including its satellite television, luxury goods, and teleconferencing software, were all US-origin products and services supplied by US companies, in violation of sanctions laws, prosecutors say.

'Facilitators of sanctions evasion enable the oligarchs supporting Vladimir Putin's regime to flout US law,' said United States Attorney Matthew M. Graves. 

'The United States will not allow its financial institutions and persons to be manipulated or defrauded for the purposes of benefitting those supporting an illegal war,' he added.

In investigation was coordinated through a Justice Department task force known as KleptoCapture, aimed at enforcing sweeping sanctions against Russia's oligarchs following the invasion of Ukraine. 

'These men made their decisions, and now face the consequences of a failed attempt to profit through, rather than standing against, a sophisticated, transnational criminal enterprise,' said KleptoCapture Director Andrew Adams.  

The US is seeking Masters' extradition from Spain. It was unclear whether he had an attorney to speak on his behalf. An arrest warrant against Osipov is outstanding. 

Share or comment on this article: British man is charged with hiding Russian megayacht Tango from US sanctions

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