WASHINGTON – The U.S. Treasury Department imposed a $7.1 million fine on a New York-based property management firm Thursday, accusing it of violating sanctions by managing luxury real estate properties for oligarch Oleg Deripaska , who has close ties to Russian President Vladimir Putin.

Treasury’s Office of Foreign Assets Control said Gracetown Inc. had received 24 payments between April 2018 and May 2020 totaling $31,250 on behalf of a company owned by Deripaska. OFAC says it gave Gracetown notice that dealings with Deripaska were prohibited, but the firm proceeded anyway.

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Justice Department filings from 2022 connect Gracetown Inc. with U.K. businessman Graham Bonham-Carter, who was arrested in October 2022 for conspiracy to violate U.S. sanctions imposed on Der

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