DOJ Charges UK Businessman With Helping Russian Oligarch Evade Sanctions
U.K. businessman Graham Bonham-Carter was indicted Oct. 11 for conspiring to violate U.S. sanctions on Russian oligarch Oleg Deripaska, wire fraud connected to funding Deripaska's American properties and working to expatriate Deripaska's U.S.-based artwork through misrepresentations, DOJ announced. The charges stem from the work of Task Force KleptoCapture, the law enforcement group tasked with enforcing the U.S.'s sanctions against Russia following its invasion of Ukraine.
Deripaska, the owner of investment and management company Basic Element, was sanctioned in 2018 and charged last month with conspiring to violate U.S. sanctions (see 2209290040). Since 2003, Bonham-Carter has allegedly worked for entities controlled by Deripaska, managing the oligarch's residential properties in the U.K. and Europe. Bonham-Carter continued to work for Deripaska even after his sanctions designation, DOJ said, engaging in over $1 million in illegal transactions to buy U.S. real estate properties for Deripaska's "benefit."
From 2005 to 2008, Deripaska bought three residential properties in the U.S., two in New York and one in Washington, D.C., entrusting management of the properties to Gracetown Inc. After Deripaska became subject to U.S. sanctions in 2018, Deripaska instructed Bonham-Carter to set up a new company to manage the properties, DOJ said: GBCM Limited.
From March to December 2021, Bonham-Carter sent payments for the "upkeep" of the properties, wiring a total of $1,043,964.30 from a Russian bank account held in GBCM's name to New York City-based bank accounts held by Gracetown, DOJ alleged. Bonham-Carter also allegedly tried to illegally transfer artwork bought by Deripaska from a New York City auctionhouse to London "through misrepresentations" to conceal the oligarch's ownership of the pieces.
Bonham-Carter was charged with one count of conspiring to violate and evade U.S. sanctions in violation of the International Emergency Economic Powers Act, one count of violating IEEPA and one count of wire fraud. Each count has a maximum 20-year prison sentence, DOJ said.