Assets worth €41 million were seized from Monaco's owner, Alexey Fedorychev, including company shares and four real estate units, including the Castle of Torre del Gallo, in relation to a money laundering and corruption case in Kyiv, Ukraine.
The financial police of Florence executed an operation during which they seized various properties of AS Monaco's owner Alexey Fedorychev in connection to a case in Ukraine.
The anti-corruption prosecutor's office in Kyiv, Ukraine, asked for international assistance from Italian authorities in Florence, which ordered the seizure of various properties.
The authorities seized company shares worth around €3 million and four real estate units worth around €38 million, among which is the historic Castle of Torre del Gallo, Il Corriere della Sera writes.
Fedorychev is under investigation for a series of potential crimes, including corruption of public officials, fraud, and money laundering in excess of €60 million. The Prosecutor's Office claims Fedorychev used some of the illicit funds to reinvest through a trust fund in Florence, La Repubblica Firenze notes.
In December 2022, Ukrainian authorities committed searches in the port of Odesa, Ukraine, ultimately seizing hundreds of thousands of tons of Ukrainian grain from a company called TransInvestService, whose co-owner is Fedorychev.
The Prosecutor's Office suggests that a Moldovan border crossing of Dyakove-Halmeu was used to illegally export Ukrainian grain through companies registered in Hungary, Czechia, and Romania.
"The people who were behind this scheme transferred products from one shell company to another [..] in order to confuse trade chains and avoid paying mandatory payments to the budget," the Security Service of Ukraine said in 2022.
68-year-old Fedorychev, who holds a Hungarian and a Russian citizenship, was sanctioned by the Ukrainian government for a period of 10 years in 2022, which includes trading restrictions, blocking of assets, and various suspensions.
