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Uranium One. Prevezon. Reset. Fusion GPS. Simpson.
Russian firm that promised to pay US millions after money-laundering settlement misses deadline
By Michael Weiss, CNN
Updated 3:45 PM ET, Thu November 2, 2017
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Michael Weiss: Prevezon Holdings Ltd., a company accused by the US government of laundering stolen Russian taxpayer money, has missed the deadline to pay a $5.9 million settlement
Michael Weiss is a national security analyst for CNN and author of "ISIS: Inside the Army of Terror."
(CNN)There's a curious new twist in the international money-laundering case which first propelled Natalia Veselnitskaya, the Russian lawyer who met with senior members of the Trump campaign in June 2016, into the American spotlight.
The Russian company that became widely known after disclosure of the Trump Tower meeting declared that it would have to miss the deadline this week for paying the US government nearly $6 million dollars in a civil settlement because it is now under investigation by Dutch authorities.
Word of Prevezon Holdings Ltd's professed inability to meet the deadline for payment came in a court filing in New York's Southern District. The Cyprus-registered company had been accused in a civil asset forfeiture case by the US Justice Department of having laundered millions in stolen Russian taxpayer money through the Manhattan real estate market. Shortly before the case was to go to trial, Prevezon settled with the government and agreed to pay $5.9 million without admitting guilt. The deadline for that payment was October 31, 2017.
Prevezon, which has been represented by Veselnitskaya in its case with the US government, has claimed that its refusal to pay on time is related to a hold placed on its funds held in the Netherlands in connection with a separate money laundering complaint filed in that country.
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According to a letter from US Attorney Joon H. Kim to Judge William H. Pauley III, the US government had agreed to request that the government of the Netherlands allow payment of a debt, amounting to 3,068,946 Euros, or about $3.6 million dollars, owed to Prevezon by AFI Europe, a Netherlands-registered company.
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The Dutch authorities had originally frozen that transaction as part of the US civil litigation. Upon relinquishment of the funds to Prevezon, as per the settlement, the company was granted 15 days to remit the full $5.9 million to Uncle Sam.
While the Netherlands complied with the Justice Department's request to unfreeze the debt in relation to the New York case on October 10, that same day, Kim writes, "Netherlands authorities seized the AFI Europe Debt based on their own independent investigation of Prevezon for money laundering, which relates to similar subject matter to this case ...The [US] Government did not request this seizure, the Netherlands authorities did not seek, or require, the Government's approval, and it is not part of or dependent on this action or the previous US-requested restraint, which has been fully released."
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The letter continues that Prevezon has "advised the [US] Government that, in light of the seizure, it may refuse to make the required payment as due, and has requested extra time for its owner to 'consider his options,' including a possible motion to relieve Prevezon of its payment obligation." If that deadline is missed, letter said, the US Attorney intends to "file a motion seeking enforcement -- including appropriate relief for late payment."
This is the first documentary evidence that Natalia Veselnitskaya's client is not quite free and clear of its legal troubles. The US alleged that Prevezon was the beneficiary of some of the funds acquired in a 2007 tax fraud perpetrated by a Russian state-backed transnational criminal organization known as the Klyuev Group.
Prevezon, which is owned by Denis Katsyv, the son of Pyotr Katsyv, a powerful Russian government official, has maintained that it was never the recipient of any purloined money. But rather than take the money laundering case to trial, it settled out of court in May.