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How To Avoid Violating U.S. Sanctions On Russian Oligarchs’ CRE Investments


On January 25, 2023, the Financial Crimes Enforcement Network (FinCEN), issued an alert to financial institutions, providing a warning regarding sanctioned Russian elites, oligarchs, and their family members who might be trying to circumvent sanctions by investing in U.S. commercial real estate. How to spot and avoid potential sanctions violators became an immediate challenge for the banking and commercial real estate community.

Bonnie Hochman Rothell was called for comment by Wealth Management who shared that a knowing violation of sanctions, and even an unknowing one, can not only lead to civil monetary penalties and possible criminal ones, but people and companies can lose licenses if they were deemed complicit in illegal transactions, even if they weren’t the entity that executed those transactions. 

Read the full story here.