French Authorities Search Finance Ministry in Russian Billionaire Money Laundering Probe

The investigation into Souleïman Kerimov focuses on luxury Côte d’Azur properties and a 2019 fiscal arrangement involving his daughter.

French investigators conducted a search of the Ministry of Economy and Finance in Paris on March 27, 2025, as part of a money laundering investigation targeting Russian billionaire Souleïman Kerimov.
The probe examines luxury villas on the Côte d’Azur, allegedly registered under false names to conceal Kerimov's ownership, with an estimated value exceeding 38 million euros.
Authorities are scrutinizing a 2019 fiscal agreement that transferred ownership of the properties to companies owned by Kerimov's daughter, Gulnara Kerimova, who has since paid over 4 million euros annually in property taxes.
The investigation, led by France's National Jurisdiction Against Organized Crime (JUNALCO), dates back to 2014 and was potentially reignited in 2022 following a Tracfin report.
Kerimov, one of Russia's wealthiest individuals, has been under EU sanctions since 2022, requiring the freezing of his assets due to Russia's invasion of Ukraine.