Feliks Medvedev, 43, of Buford, Georgia, received a sentence of three years and 
ten months in prison and a $10,000 fine on Wednesday, according to officials.
He operated an unlicensed money-transmitting business that allowed him to transfer more than $150 million in Russian funds.
Court documents reveal that Medvedev, a Russian citizen living in North Georgia, established eight companies in Georgia to conduct these transactions.
Despite being based in Buford and Dacula, these companies lacked typical business operations, such as employees or significant expenses.
The illicit funds were partially used to acquire more than $65 million in gold bullion overseas. Medvedev transferred large sums internationally using various U.S. bank accounts.
Medvedev collaborated with a Russian company as part of the conspiracy, and several Russian employees gave him instructions on making unauthorized fund transfers, officials stated.
Subsequent to Medvedev’s indictment, on Sept. 14, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control sanctioned two of Medvedev’s alleged co-conspirators:
Russian national Alexey Chubarov and his company, KSK Group.
Earlier this year, on Feb. 13, Chubarov, KSK Group and Russian national Lev Solyannikov were separately indicted in Georgia for conspiring with Medvedev.
Medvedev was convicted of the charges on Feb. 7, after he pleaded guilty.
The FBI and the Department of Commerce’s Bureau of Industry and Security are investigating the case.
Assistant U.S. Attorneys Christopher J. Huber and Norman L. Barnett for the Northern District of Georgia are prosecuting the case.