US sanctions Russian money laundering network that used USDT
The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that it had sanctioned several individuals and entities related to a money laundering network that relied on tether (USDT), as well as other cryptocurrencies, to move assets for Russian interests. The United Kingdom and the United Arab Emirates collaborated with OFAC to disrupt this network, according to the press release. In total, OFAC has sanctioned five new individuals and four entities that were associated with the TGR Group money laundering network. What did this money laundering network look like? The TGR Group, allegedly controlled by Ukrainian national George Rossi, supposedly provides services exchanging cash for crypto (and vice versa), a pre-paid card service, and helping enable “Russian nationals to purchase property in the United Kingdom.” The press release also notes that Rossi “leveraged OFAC-sanctioned Russian crypto exchange, G...