Felix Sater Found Guilty in NY of Aiding in $32 Million Money Laundering Scheme

Felix Sater, a former Trump associate, was found guilty in a civil trial for aiding in the alleged laundering of $32 million through US real estate. Allegedly aiding Kazakh financier Ilyas Khrapunov, Sater was accused of concealing Khrapunov's role in money laundering from a Kazakh city and BTA Bank. Sater plans to appeal the verdict, which is part of a global effort by BTA to recover funds allegedly misappropriated by Khrapunov's father-in-law, Ablyazov.

In a significant development, Felix Sater, a Russian-born businessman with ties to President Donald Trump, has been found guilty in a civil trial for his alleged involvement in a money laundering scheme worth $32 million [1]. This case forms part of a larger effort by BTA Bank, a Central Asian financial institution, to recover funds purportedly misappropriated by Kazakh financier Ilyas Khrapunov and his associates.

The civil lawsuit, filed in the Southern District of New York, claims that Sater conspired with Khrapunov to conceal the financier's role in money laundering from Kazakh city Almaty and BTA Bank [1]. The alleged scheme involved laundering funds stolen from BTA and investing them in US real estate projects.

Sater's association with Trump extends back to the early 2000s when he reportedly helped the President explore business opportunities in Moscow [1]. Although Trump's name was never mentioned in the trial, the case has drawn attention to the former President's inner circle due to Sater's close ties.

Khrapunov and his family are currently residing in Switzerland, where they are avoiding extradition to Kazakhstan [1]. Kazakhstan's former chairman, Mukhtar Ablyazov, who is also implicated in the case, has been accused of stealing over $4 billion from BTA before fleeing to Russia and later Europe [1]. Ablyazov claims to be a victim of political persecution and has funded opposition groups in Kazakhstan [1].

In 2017, Trump's longtime lawyer Michael Cohen was hired by BTA to help relocate the bank's assets [1]. Cohen, who is currently serving jail time for financial crimes, recommended Sater to the bank as a person with access to the best legal resources [1].

As BTA continues its efforts to recover the stolen funds, this case sheds light on the intricate web of connections between global financial institutions, politicians, and individuals.

References:
[1] "Donald Trump's Felix Sater Found Guilty in Money Laundering Case," Newsweek, September 20, 2021, https://www.newsweek.com/donald-trump-felix-sater-tower-1375485