Since the start of Russia’s invasion of Ukraine in February 2022, the French judiciary has broadened its focus beyond Russian oligarchs to include individuals suspected of laundering money in France, as evidenced by the seizure of 14 properties on the French Riviera linked to a Ukrainian oligarch.
These assets, valued at €57 million, were seized as part of a preliminary investigation into “organized money laundering,” according to the Paris prosecutor’s office. The investigation, led by judicial customs officers of the National Anti-Fraud Office, began in May 2023 following a tip from Ukrainian authorities.
The probe targets Vyacheslav Boguslayev, the former president and principal shareholder of Motor Sich, an aviation engine manufacturer. Boguslayev was arrested in Ukraine in October 2022 and is accused of “collaboration” with Russia, allegedly continuing to supply helicopter engines to the Russian army after the conflict began. Kyiv is also investigating the circumstances surrounding Boguslayev’s sale of Motor Sich shares to foreign entities.
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