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Hunting Oligarchs – Italian authorities seize more superyachts and assets!

FinTelegram reports that Italian law enforcement has seized villas and yachts worth at least €140m from four Russian oligarchs because the EU placed them on the sanctions list. They forfeited a villa owned by the billionaire businessman Alisher Usmanov on Sardinia and a villa on Lake Como owned by Vladimir Soloviev. The agents also seized superyachts belonging to Russia’s richest man, Alexei Mordashov and Gennady Timchenko.

According to Forbes magazine, Alexei Mordashov had an estimated net worth of $29.1B before sanctions hit. His 65-meter yacht Lady M is valued at €65m. Palmer Johnson in Monaco built the vessel, the Italian designer design house Nuvolari Lenard styled the interior. She was delivered to her owner in June 2013. The Italian agents impounded her in the northwest port of Imperia.

The Guardian reports that Gennady Timchenko’s superyacht, Lady Lena, worth €50m, was seized nearby Sanremo. Lady Lena is a motor yacht with a length of 52.0m. Sanlorenzo in Italy built it and delivered the superyacht in 2020. Timchenko made a fortune in oil trading. Vladimir Putin described him as one of his closest associates.

Authorities found Alisher Usmanov’s $600M Dilbert in Hamburg, Germany, and Igor Sechin‘s $140M Amore Vero in France. Please read this report here. Nothing hurts Russian oligarchs more than losing their luxury toys.

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