AUSTIN, Texas — A Russian businessman with affiliations to a Vladimir Putin-aligned oligarch was arrested by federal agents in Austin Thursday morning.
Court documents show that Vadim Wolfson, whose real name is Vadim Belyaev, was arrested on a federal indictment issued from New York. Wolfson, along with two others, has been indicted on federal charges related to money laundering and purported violations of the International Emergency Economic Powers Act (IEEPA).
The indictment indicates that Wolfson is affiliated with Andrey Kostin, a Russian businessman who is closely tied with Russian President Vladimir Putin and who was named as a co-defendant in the case. According to documents, Kostin has run the Russian-based VTB Bank since 2022.
Documents also state that Wolfson is the founder of Otkritie, which was one of Russia's largest private banks.
A U.S. resident who lives in New Jersey was named as the third co-defendant.
Kostin was sanctioned by the U.S. in 2018 and was subsequently sanctioned by Canada in 2019. In 2022, after Russia invaded Ukraine, the United Kingdom, Japan, Australia and New Zealand also placed sanctions on him.
According to the indictment, Wolfson assisted Kostin in selling his house in Aspen, Colorado, and in maintaining Kostin's fleet of yachts. Wolfson and the third co-defendant wired him $12 million in proceeds in relation to the sale of the house in Aspen.
The money laundering charges for each stem from the trio allegedly laundering funds through shell companies to execute the sale and maintaining the yachts.
Wolfson and the U.S. resident are in custody, while Kostin remains in Russia.