Published 14 days ago • Russia, Russian Federation • Updated 13 days ago

San Francisco VC Firm Fined $215M for Using Russian Oligarch Funds

Summary by The San Francisco Standard

GVA Capital tried and failed to build a Russian Hill “startup temple” using money from a sanctioned billionaire.

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The San Francisco Standard

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San Francisco VC firm fined $215M for using Russian oligarch funds

GVA Capital tried and failed to build a Russian Hill “startup temple” using money from a sanctioned billionaire.

13 days ago

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Korrespondent.net

U.S.A. Fined a Venture Fund for Cooperating with a Sub-Sentenced Kerimov.

GVA Capital, registered in the Cayman Islands with an office in San Francisco, continued to manage the assets of Kerimov until 2021, despite Western sanctions against the Russian billionaire.

13 days ago·Kyiv, Ukraine

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amlintelligence.com

NEWS: GVA Capital hit with $216 million OFAC fine for managing funds linked to Russian Oligarch Kerimov - AML Intelligence

By AML Intelligence Correspondents U.S. venture capital firm GVA Capital was today fined $216 million for egregious violations of Russia-related sanctions and failure to comply with a federal subpoena. The penalty – the statutory maximum allowable – stems from the San Francisco based firm’s continued management of an investment on behalf of Russian oligarch Suleiman […]

14 days ago

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