Tag

Seized Funds

All articles tagged with #seized funds

international-relations2 years ago

"U.S. Sends Oligarchs' Cash to Ukraine, Kremlin Loses Control"

The Kremlin has expressed outrage after the U.S. announced it would be sending $5.4 million seized from sanctioned Russian oligarchs to Ukrainian veterans. The move comes just a day after Moscow's forces killed 16 civilians in Ukraine. While the U.S. State Department has not disclosed the specific individuals whose assets are being handed over, the amount matches that ordered seized from oligarch Konstantin Malofeyev, who was indicted for evading sanctions and running pro-Kremlin media outlets. This marks the first time funds confiscated from Kremlin allies are being redirected to Ukraine, with U.S. Secretary of State Antony Blinken stating that those who enabled Putin's aggression should pay for it.

finance2 years ago

SVB Financial files lawsuit against FDIC to reclaim $1.9 billion seized during bank failure

SVB Financial Group has filed a lawsuit against the US Federal Deposit Insurance Corporation (FDIC) to recover $1.93 billion that was seized during the takeover of Silicon Valley Bank. SVB Financial, the former owner of the bank, is currently selling its remaining assets in bankruptcy. The company alleges that the FDIC violated bankruptcy rules by transferring funds and refusing to honor its demand for payment. The FDIC has not yet responded to the lawsuit.