US authorities remove studholder from sanctions list / Full rehabilitation from all allegations
Lucerne / Berlin (ots) – As attorney for Mr. Alexander Studhalter, his sons Mr. Jeremy Studhalter and Mr. Hugo Studhalter as well as Studhalter International Group AG and its subsidiaries, I, Dr. Ben M. Irle, make the following statement:
On June 7, 2024, the U.S. Office of Foreign Assets Control of the U.S. Department of Treasury (OFAC) announced that it would remove Mr. Alexander Studhalter, his sons Mr. Jeremy Studhalter and Mr. Hugo Studhalter, as well as Studhalter International Group AG and its subsidiaries (hereinafter “Studhalter”) from the U.S. sanctions list (SDN list), thereby fully rehabilitating all of the individuals named with regard to all allegations made against them.
Studhalter was accused by the US authorities in 2022 of working as a business partner with the Russian entrepreneur Suleiman Kerimov and of laundering money for him. It was said that Studhalter was “an important player in Kerimov’s corporate network and manages, among other things, Kerimov’s companies” and should “laundered significant amounts of money for Kerimov“. Kerimov, who is considered a close confidant of Russian President Vladimir Putin, was already sanctioned as a supporter of the Putin regime in 2018.
Studhalter has always denied the allegations made against him and his sons and pointed out that he had already begun ending his business relationship with Kerimov in 2017 – long before the sanctions imposed on Kerimov and more than five years before Russia’s attack on Ukraine – and had then completed the process long before the outbreak of the Russia-Ukraine war.
As a result of a comprehensive and thorough investigation lasting a good year and a half by OFAC (Office of Foreign Assets Control) at the US Department of Treasury, the US Department of Justice and the US Department of State, no findings were made that would justify sanctioning Alexander Studhalter, his sons and all of his companies. Studhalter and his sons are thus fully rehabilitated. In response to the allegations, Studhalter has always asserted that he has had no business relationship with Suleiman Kerimov and his companies since 2018 and that he has never committed any money laundering.
Alexander Studhalter, his sons and their companies are among the very few people who have been removed from the US sanctions list not only at all but also in such a short time. Studhalter managed to fully convince the US authorities that their business activities were not objectionable under the strict requirements of US sanctions law and that the accusation of money laundering was unfounded.
Alexander Studhalter: “I am happy and grateful that after a very demanding but at the same time thorough and objective investigation by several US authorities, it has now been officially confirmed that all allegations made against us are unfounded.”
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#Press #release #Alexander #Studhalter #Irle #Moser #Rechtsanwälte #09.06.2024