Does anybody know for certain what this involves. Are we speaking of assets throughout the world? How is this accomplished? It seems the Russian Oligarchs have been scrambling to avoid their assets being seized. I am posting the following article to illustrate the ridiculous amount of wealth these folks have.

Roman Abramovich’s ex-wife worried about her $650 million fortune: report

The ex-wife of Russian oligarch Roman Abramovich is holed up in her London mansion, worried that her $650 million fortune could be under threat because of sanctions, a former security guard claims.

The ex-soldier, who traveled the world with the now-disgraced multi-billionaire, said Irina Abramovich is “living in fear” that her posh lifestyle may become a thing of the past, he told the Sun.

Irina, 55, had five children with Abramovich before their 2007 divorce. She is a former flight attendant.

Abramovich’s assets have been frozen in the UK. His $1.5 billion superyachts, Eclipse, was recently seen in the Mediterranean.

Irina has not come under official pressure over her ex’s money yet, the Sun reported.

The former security guard told the Sun, “There’s wealth and riches – and then there’s Roman Abramovich-inspired money. It sparked opulence off the scale.”

Irina “was always Harrods’ No 1 customer,” the guard said.
She got designer clothes by the ton. She’s the Imelda Marcos of London.”

The former guard added, “Irina is usually out on the town every night. Now she doesn’t know where to turn. She fears her UK days are over for good.”

LINK: https://nypost.com/2022/03/19/...650m-fortune-report/

Interested myself, I was party to seizures by the NC Dept of Revenue when they would go seize things for taxes due on drug dealers. But the dealers had already even convicted of selling X amount of whatever and they taxed the illegal income. But I have no clue the what the legality of just taking things because potato joe said so.

I suspect that much of this is political theater, intended primarily to convince the public that our "dear leaders" are "doing something" about this or that pressing issue.

Seizing is easy enough, a court order freezing a bank account or a tax lien filed on a piece of real estate or floating yacht. Then the court battle commences, the lawyers dance around the courthouse for a couple of years until the public loses interest (or attention can be diverted to other more pressing issues), and a settlement is reached quietly (probably costing the taxpayers a ton of bucks, disguised in legalese within a couple thousand pages of redacted documents that can only be accessed with a Freedom of Information Act lawsuit and a few years in federal court).

Big time dope dealer driving a Mercedes Maybach, no problem. Russian oligarch with a billion dollar yacht and a chair on the board of a dozen corporations, time for the lawyers to cash in and the politicians to head for the photo op.

Political theater. Watch carefully what my right hand is doing, don't pay any attention to my left hand.

quote:

Originally posted by LoboGunLeather:


Big time dope dealer driving a Mercedes Maybach, no problem. Russian oligarch with a billion dollar yacht and a chair on the board of a dozen corporations, time for the lawyers to cash in and the politicians to head for the photo op.

Political theater. Watch carefully what my right hand is doing, don't pay any attention to my left hand.

agree. IANAL but I'm trying to figure out the legal justification for these seizures -- its private property not directly involved with the conflict in many cases thousands of miles away from the war zone.

but I'm sure 18 years ago on page 1,639 of some omnibus bill we 'passed legislation' allowing it somehow. all for 'our protection'... and who knows what's allowable under other nations' laws.

we shall see but I'm guessing some of these rich Russians will be getting their property back after long drawn-out / complicated court proceedings

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All governments now days do whatever they can get away with.

Well, Lloyd's of London has revoke all insurance on Russian vessels, notably the mega yachts of the Kleptocrats.

That keeps them from entering most ports, because no insurance, no entrance. There are super yachts heading for Vladivostok right now.

eSysman, YT channel on private yachts, discusses the insurance issue.

He also tracks what is seized by various governments.

Putin's yacht:


Abramovich' Yacht

Thanks. Interesting.

And who will buy a seized yacht at auction? How many people can afford such a thing and would want to deal with future litigation over it? I feel bad for the crews of these boats who lose their jobs over this political theater. I'd like to know what law in any western democracy allows such a thing. Our own civil asset forfeiture laws are outrageous. But they sometimes have a basis in criminal activity. Not so with seizing rich guys' stuff because the president of their country is a bad guy. That could never happen to us, right?