The United States found money belonging to a senator from the Russian Federation at an American company.
The Office of Foreign Assets Control (OFAC) of the US Treasury Department reported that IPI Partners, LLC (“IPI”), a Chicago-based private equity firm that specializes in buying, developing, and operating data centers has agreed to pay $11.485.352 in fines to settle its liabilities for violating sanctions related to Ukraine and Russia.
In 2017 and 2018, IPI received investments from Russian businessman Suleiman Kerimov. Four years later, in 2022, OFAC imposed sanctions on Kerimov, and IPI became aware of this. As a result, IPI established the IPI Data Center Partners Fund, which is a private equity fund dedicated to the acquisition, construction, and operation of data centers. One year later, the banker introduced Nariman Gadzhiev to the fund, who was Kerimov’s representative. With Gadzhiev’s involvement, the parties reached an agreement on investments.
Kerimov has been a senator of the Russian Federation and a representative of the People’s Assembly of the Republic of Dagestan since 2008. He is on sanctions lists in the EU, Canada, Great Britain, Australia, Switzerland, Japan, Ukraine, and New Zealand.
