The US Government Is Offering You $5 Million To Snitch On Russian Oligarchs
โ€” 21 March 2022

The US Government Is Offering You $5 Million To Snitch On Russian Oligarchs

โ€” 21 March 2022
Garry Lu
WORDS BY
Garry Lu

Forget what you learned in primary school. Dibber dobbers donโ€™t wear nappies โ€” they collect $5 million rewards for ratting out Russian oligarchs to the US government. At least according to the newly-launched Kleptocracy Asset Recovery Rewards Program (KARRP).

The KARRP was actually established prior to Russiaโ€™s invasion of Ukraine โ€“ approved by Congress during the Trump administration, despite old Donnyโ€™s attempt to veto the broader defence bill for confusing + nonsensical reasons โ€“ but represents yet another act of solidarity between the United States and its allies to sanction Russian individuals/entities in cahoots with President Vladimir Putin (or enabling the conflict at hand).

As you can imagine, there are pages upon pages of fine print to sift through if you want to claim your seven-figure bounty. Essentially, all you need to qualify for a payout is to provide information that leads to the seizure, restraint, forfeiture, or repatriation of assets linked to corruption involving the government of the Russian Federation. This encompasses anything from the more tangible (and flashier) toys like yachts, private jets, and mansions to financial holdings like bank accounts and hedge fund-managed investments.

RELATED: Russian Billionaireโ€™s $793 Million Superyacht Seized By Italian Government

โ€œThe language here is very broad,โ€ Ross Delston, independent attorney and anti-money laundering compliance expert, explains to Vice.

โ€œIt could include a wide range of assets.โ€

Given how Russia was crowned the most corrupt European nation by Transparency Internationalโ€™s Corruption Perceptions Index back in 2021, ranking 136th out of 190 countries, there definitely wonโ€™t be a shortage of targets.

Qualifying assets must be located in the US, held in a US financial institution, or somehow in possession of a US citizen. Yes, this is one of the rare occasions where itโ€™s actually a benefit to be an American in 2022โ€ฆ as long as youโ€™re not a US government employee, in which case youโ€™re shit out of luck. Additionally, the Secretary of the US Treasury may consider kicking a sum exceeding $5 million in your direction under the Kleptocracy Asset Recovery Rewards Program should they feel itโ€™s warranted.

Sailing Yacht A - Kleptocracy Asset Recovery Rewards Program

Beyond the US borders, you will have noticed seizures have been steadily escalating over the past month. Last week, notable industrialist Andrey Melnichenko became the latest victim of European Unionโ€™s sanctions after his โ‚ฌ530 million (AU$793 million) Sailing Yacht A was intercepted off the Italian coast by authorities.

The task force sniffed Melnichenko out after identifying him as a key member of the Putin administrationโ€™s financial aid. In justifying their decision, a member of the EU Council stated that the Eurochem and SUEK owner โ€œbelongs to the most influential circle of Russian businesspeople with close connections to the Russian government.โ€ The worldโ€™s largest motor yacht is currently impounded at the city of Trieste.

Find out more about the Kleptocracy Asset Recovery Rewards Program below.

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Garry Lu
WORDS by
After stretching his legs with companies such as The Motley Fool and the odd marketing agency, Garry joined Boss Hunting in 2019 as a fully-fledged Content Specialist. In 2021, he was promoted to News Editor. Garry proudly retains a blue belt in Brazilian Jiu-Jitsu, black bruises from Muay Thai, as well as a black belt in all things pop culture. Drop him a line at [email protected]

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