© AP Photo / Susan Walsh
Boris Rotenberg and his older brother Arkady came under US sanctions in 2014.
“It appears that the Rotenbergs continued to be active in the US art market, purchasing more than $ 18 million worth of art in the months following the sanctions,” the report said.
The document claims that entrepreneurs bypassed the sanctions by transferring money to shell companies to invest in valuable art.
To do this, the billionaires allegedly used three shell companies. At the same time, the Moscow art dealer Grigory Baltser was allegedly speaking on their behalf.
Balzer, who holds a U.S. passport, used a shell company, Steamort Limited, to buy art for the Rothenbergs, the report said. Thus, according to the authors of the report, at least 16 paintings were purchased.
The auction houses said they saw nothing strange about Balzer's actions. At the same time, the report claims that funds for the purchase of art objects to Balzer's account came from the account of one of the fictitious companies. Balzer's lawyer denied that he ever represented the Rotenbergs.
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