Feliks Medvedev has been indicted on one count of operating an unlicensed money transmitting business and 39 counts of money laundering.
According to the Department of Justice, the indictment, Medvedev allegedly registered eight companies in Georgia that were used to transmit over $150 million in a series of 1,300 transactions. The companies were purportedly headquartered in Buford, Georgia, and Dacula, Georgia. But the companies did not generate typical business expenses or maintain employees. The money was used, in part, to purchase more than $65 million in overseas gold bullion. Medvedev, a Russian citizen who resides in North Georgia, allegedly transferred millions overseas from multiple bank accounts in Georgia.
Medvedev was indicted by a federal grand jury for these offenses on April 11, 2023.