Forbes reports Russian billionaire in Comanche Cove Marina

[AA3JY]

https://www.yahoo.com/news/forbes-sa...190723672.html

[Snore]

Yikes! Been there a few times. They must have gone in at high tide!

[letsgetsailing3]

Someone better drop Biden a note...


They've allocated $ millions towards finding boats like this, and this one may get away before they hire the staff to find and confiscate it.

[redneckrob]

Originally Posted by letsgetsailing3

Someone better drop Biden a note...


They've allocated $ millions towards finding boats like this, and this one may get away before they hire the staff to find and confiscate it.

I don't believe Igor Markov, the owner of this boat, is on the list of those subject to sanctions. So it's not clear what the point of this article is at all? A rich guys yacht is in a marina, story about a Ferrari parked in a driveway up at 11?

[Sand crab]

That boat is only worth 7 million. Not even worth their time.

[DMF Sailing]

Makarov is an interesting character whose company has close ties (and some controversial transactions, but aren't they all) with Rosneft, the Russian state-owned oil and gas conglomerate (whose leader is a former KGB general, I believe, and is under sanctions.)

Makarov is also an advisor to the (dictatorial) leadership of Turkmenistan. He has denied any close ties to Putin, for what that's worth.

Makarov resides in Miami. He also keeps a lot of money in a trust in the state of Wyoming, a relationship that came up in the Pandora Papers (google it, or wait for Gord May to post the relevant articles.)

I doubt he'll face the sanctions faced by more prominent oligarchs with longer-standing and more publicly reported ties to Putin's Kremlin who reside outside Russia (Chelsea football club owner Roman Abramovitch, for example).

As much fun as it is to track the yachts of Russian billionaires, if the U.S. wanted to go after Makarov, they'd probably go after that trust in Wyoming first.

[Shrew]

I don't see Igor Makarov on the list of Russian Oligarch's sanctioned by the US. Igor Makarov has kept his yacht in Comanche Cove Marina for many years. I also doubt that Makarov directly owns this vessel on paper.

[Lake-Effect]

“Behind every great fortune there is a crime."
- Honoré de Balzac



This recent essay by a French economist makes the case that it is the larger group of wealthy Russians, and not just the top handful of famous oligarchs, who should be targeted for sanctions, if we truly want personal sanctions to have an effect on the Russian government. He also points out why this cuts a little too close to home in the West.

"To bring the Russian state to heel, we must focus sanctions on the thin social layer of multimillionaires upon which the regime relies: a group much larger than a few dozen people, but much narrower than the Russian population in general."

[DMF Sailing]

Originally Posted by Lake-Effect

[I]“ He also points out why this cuts a little too close to home in the West.

In this case, a large part of the fortune is in Wyoming.

[Sailor Sailor]

Wyoming is notorious for its liberal Domestic Asset Protection Trusts - self-settled irrevocable trusts in which the settlor/grantor can be beneficiary. In other words, you can put your money away from creditors in the name of the trust and still receive benefits.

If one ever has to file bankruptcy, one of the questions on the required Statement of Financial Affairs is whether you created one of those during the last 10 years.

In Wyoming, they are good after 6 months.

[Sailor Sailor]

One other thing, on social media, a fraction of those commenting are upset about these seizures, as if they are something new and will set a bad precedent.

Seizures, pre-judgment attachments, executions in satisfaction of judgments, and criminal forfeitures have been around for years, and a regular feature of the law. At least, if your property is attached or seized by a Western-style democracy, you will be entitled to due process of law - notice and an opportunity to be heard.

[goboatingnow]

The state has been seizing private property since Henry the 8th

[AA3JY]

Maybe ‘Trickle up’ economics might work..oligarch or not.. https://www.forbes.com/sites/jonatha...nate-bill/amp/

[GordMay]

1. US authorities got a tip-off from a ship design company before seizing a Russian oligarch's [Viktor Vekselberg] $90 million superyacht [“Tango”]

DOJ Press Release ➥ https://www.justice.gov/opa/pr/90-mi...request-united

Warrant ➥ https://www.justice.gov/opa/press-re...90356/download

[1] More about ➥ https://www.businessinsider.in/theli...w/90668005.cms

Video of Arrest ➥ https://youtu.be/KrOUGJCMmVw

[GordMay]

Fiji investigates arrival of Russian oligarch's vessel, questions captain
Fiji newspapers reported that police had seized the superyacht Amadea, owned by a Russian billionaire, Suleiman Kerimov, who has been sanctioned by the United States, Britain and the European Union, and detained its crew. The captain of the vessel, which arrived on Tuesday, was being questioned about how it came to Fiji without customs

More ➥ https://www.fijitimes.com/we-don’t-d...ryacht-amadea/

And ➥ https://www.reuters.com/world/fiji-i...in-2022-04-14/

Earlier ➥ https://www.fijitimes.com/amadea-is-...yacht-in-fiji/