Overview
- OFAC imposed a $7,139,305 civil penalty on Gracetown Inc. on Dec. 4 for violating Russia‑related sanctions.
- Regulators say the firm handled 24 payments totaling $31,250 between April 2018 and May 2020 for a Deripaska‑owned company after receiving notice that such dealings were prohibited.
- Treasury found Gracetown failed to report blocked assets in its possession or control for 45 months.
- Founded in 2006, Gracetown managed three luxury properties in New York and Washington, D.C., tied to Oleg Deripaska, who was its ultimate owner until 2018.
- Justice Department filings link Gracetown to U.K. businessman Graham Bonham‑Carter, arrested in 2022 on charges related to evading sanctions and funding Deripaska’s U.S. properties.