Treasury’s Office of Foreign Assets Control (OFAC) on December 2 announced an $11,485,352 settlement with Chicago-based IPI Partners, LLC for 51 apparent violations of U.S. sanctions on Russia. The firm managed a $50 million investment that traced back to Russian oligarch Suleiman Kerimov—and continued doing so for four years after Kerimov’s April 2018 SDN designation.
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