Ukrainian National's Son Suspected of Money Laundering as Properties Seized on French Riviera
Oleksandr Boguslayev arrested in Monaco amid an investigation linked to his father, Vyacheslav Boguslayev, accused of collaborating with Russian forces.
Oleksandr Boguslayev, the son of Vyacheslav Boguslayev, a former Ukrainian member of parliament currently incarcerated in Ukraine, has been arrested in Monaco as part of a broad investigation into money laundering.
This investigation involves accusations of misappropriation of $650 million in assets, a substantial portion of which is suspected to have been invested in high-value real estate on the French Riviera.
Following a joint investigation by judicial authorities in Kyiv, Paris, and Monaco, approximately fifteen apartments and properties have been seized across the Alpes-Maritimes and Var regions.
The value of these assets is estimated at €57 million, as confirmed by Paris's public prosecutor's office.
Vyacheslav Boguslayev, who has long been affiliated with the pro-Russian Party of Regions, has a notable career as an engineer and was once the chief executive officer of Motor Sich, a key player in the Ukrainian aviation manufacturing sector.
Under his management, Motor Sich reportedly fell into foreign hands after he acquired a controlling interest of 65% at a significantly undervalued price, prompting inquiries from Ukraine's security services (SBU).
The SBU has previously disclosed intercepts that suggest Vyacheslav Boguslayev continued to supply engines to the Russian military despite the ongoing conflict, further complicating his legal situation.
He is under investigation for financial crimes, specifically regarding allegations that he sold shares in Motor Sich to his son through a series of offshore companies, thus allowing the strategic asset to pass into foreign ownership while directing substantial funds to Europe and the French Riviera.
The investigation into this substantial capital flight led Ukrainian authorities, supported by Monaco’s National Jurisdiction against Organized Crime (JUNALCO) and the General Prosecutor's Office of Monaco, to apprehend Oleksandr Boguslayev on April 28 at his villa.
In recent years, he made multiple property acquisitions along the Mediterranean coast.
In Nice, Oleksandr Boguslayev is associated with several real estate investment companies.
He owns an apartment on the Promenade des Anglais and two additional apartments on Avenue Victor Hugo.
Additionally, he has sold a villa in Cimiez to a fellow Ukrainian entrepreneur.
His property portfolio on the Côte d'Azur reportedly includes other residences in Marina Baie des Anges and Vallauris.
Notably, four months after the onset of the Russian invasion, he purchased a vast estate that had been owned for over twenty years by a former Emir of Qatar, located in Bargème.
Furthermore, the Boguslayevs acquired a private island, Isola Gallinara, located off the Italian coast near Albenga and Alassio, known historically as a refuge for popes.
While many of these luxury properties have been seized in France, Oleksandr Boguslayev was released after 48 hours in custody in Monaco without charge at this stage of the investigation.
This investigation involves accusations of misappropriation of $650 million in assets, a substantial portion of which is suspected to have been invested in high-value real estate on the French Riviera.
Following a joint investigation by judicial authorities in Kyiv, Paris, and Monaco, approximately fifteen apartments and properties have been seized across the Alpes-Maritimes and Var regions.
The value of these assets is estimated at €57 million, as confirmed by Paris's public prosecutor's office.
Vyacheslav Boguslayev, who has long been affiliated with the pro-Russian Party of Regions, has a notable career as an engineer and was once the chief executive officer of Motor Sich, a key player in the Ukrainian aviation manufacturing sector.
Under his management, Motor Sich reportedly fell into foreign hands after he acquired a controlling interest of 65% at a significantly undervalued price, prompting inquiries from Ukraine's security services (SBU).
The SBU has previously disclosed intercepts that suggest Vyacheslav Boguslayev continued to supply engines to the Russian military despite the ongoing conflict, further complicating his legal situation.
He is under investigation for financial crimes, specifically regarding allegations that he sold shares in Motor Sich to his son through a series of offshore companies, thus allowing the strategic asset to pass into foreign ownership while directing substantial funds to Europe and the French Riviera.
The investigation into this substantial capital flight led Ukrainian authorities, supported by Monaco’s National Jurisdiction against Organized Crime (JUNALCO) and the General Prosecutor's Office of Monaco, to apprehend Oleksandr Boguslayev on April 28 at his villa.
In recent years, he made multiple property acquisitions along the Mediterranean coast.
In Nice, Oleksandr Boguslayev is associated with several real estate investment companies.
He owns an apartment on the Promenade des Anglais and two additional apartments on Avenue Victor Hugo.
Additionally, he has sold a villa in Cimiez to a fellow Ukrainian entrepreneur.
His property portfolio on the Côte d'Azur reportedly includes other residences in Marina Baie des Anges and Vallauris.
Notably, four months after the onset of the Russian invasion, he purchased a vast estate that had been owned for over twenty years by a former Emir of Qatar, located in Bargème.
Furthermore, the Boguslayevs acquired a private island, Isola Gallinara, located off the Italian coast near Albenga and Alassio, known historically as a refuge for popes.
While many of these luxury properties have been seized in France, Oleksandr Boguslayev was released after 48 hours in custody in Monaco without charge at this stage of the investigation.