U.S. offering $5 million reward for info on Russian oligarchs' assets
The seized Lena superyacht, owned by Russian billionaire Gennady Timchenko, at the port in Sanremo, Italy, on Monday, March 7, 2022. Photographer: Giuliano Berti/Bloomberg via Getty Images
The United States is offering tipsters up to $5 million for information on Russian oligarchs' assets, like yachts and mansions.
The program, originally approved by Congress during the Trump administration, was officially launched on Wednesday by the U.S. Department of the Treasury and is called the Kleptocracy Asset Recovery Rewards Program.
The program dives rewards for information that leads to the restraint, seizure, forfeiture or repatriation of stolen assets in an account at a U.S. financial institution (including a U.S. branch of a foreign financial institution), that come within the United States, or that come within the possession or control of any U.S. person.
In a statement on the Department of the Treasury's website, officials are looking for information on assets "linked to corruption involving the government of the Russian Federation."
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According to Yahoo! News, to be eligible to receive a reward, "a tipster must provide information that leads to the restraint, seizure, forfeiture or repatriation of stolen assets 'linked to foreign government corruption.'"
The program is also seeking tips about assets linked to bribes paid by Brazilian petrochemical companies Odebrecht S.A. and Braskem S.A., as well as corruption involving the Sovereign Wealth Fund of Malaysia, known as 1MDB.
Following the Kremlin’s invasion of Ukraine, Russia has now become the world’s most sanctioned country, with several nations seizing yachts, villas, and jets from Russian oligarchs.