December 15, 2015

Russian Nuclear Industry Official Sentenced to Prison for Money Laundering

By ExchangeMonitor

The former president of the U.S. branch of a Russian nuclear company yesterday was sentenced to 48 months in prison for helping arrange over $2 million in “corrupt payments” meant to aid U.S. businesses in securing contracts for the Russian state-owned nuclear energy corporation, the Department of Justice announced. Vadim Mikerin was president of TENAM Corp., a subsidiary of TENEX, a provider of Russian uranium and uranium enrichment services and a branch of Rosatom, the state-owned corporation.

Mikerin and two others conspired to send $2.1 million from the U.S. to offshore bank accounts in violation of the Foreign Corrupt Practices Act, the statement says. Over the course of a decade, “conspirators agreed to make corrupt payments to influence Mikerin and to secure improper business advantages for U.S. companies that did business with TENEX,” according to DOJ. In addition to his prison term, Mikerin was ordered to forfeit $2.1 million. His co-conspirators, Daren Condrey and Boris Rubizhevsky, both pleaded guilty in the case in June and await sentencing.

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