US authorities remove student from sanctions list / Complete rehabilitation of all allegations
Lucerne / Berlin (ots) – As lawyer 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, made the following statement:
The US Office of Foreign Assets Control of the US Department of Treasury (OFAC) announced on June 7, 2024 that 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 US sanctions list (SDN list) and has thereby completely rehabilitated all of the persons named with regard to all allegations made against them.
Studhalter was accused by the US authorities in 2022 of having worked as a business partner with the Russian entrepreneur Suleiman Kerimov and of having laundered money for him. So it was said that Studhalter was “an important player in Kerimov’s company network and, among other things, manages Kerimov’s company“and shall”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 started terminating the business relationship with Kerimov in 2017 – long before the sanctions against Kerimov and more than five years before Russia’s attack on Ukraine – and then to have been completed 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 the OFAC (Office of Foreign Assets Control) located at the US Department of Treasury, the US Department of Justice and the US Department of State, no findings could be made that would lead to sanctions of Alexander Studhalter, his sons and all of his companies. Studhalter and his sons are thus fully rehabilitated. In response to the allegations, Studhalter always asserted that he had no longer had any business relationship with Suleiman Kerimov and his company since 2018 and that he had never committed any money laundering activities.
Alexander Studhalter, his sons and their companies are among the very few people who are not only removed from the US sanctions list at all, but especially in such a short time. Studhalter managed to completely convince the US authorities that their business activities were not objectionable under the strict requirements of US sanctions law and, in particular, 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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