Attorneys representing the daughter of a Russian billionaire who has been sanctioned by the U.S. have petitioned a U.S. federal court to gain access to financial records belonging to top officials of Antigua and Barbuda. This request comes as the administration faces scrutiny over the seizure and subsequent sale of the family’s 265-foot luxury yacht and for withholding documents related to the transaction.
This marks a significant turn in the ongoing international legal dispute involving the Alfa Nero megayacht. The yacht, which was anchored near Antigua for over two years, attracted potential buyers like former Google CEO Eric Schmidt. The yacht was initially left behind by Andrey Guryev, a Russian businessman and fertilizer company founder. His daughter, Yulia Guryeva-Motlokhov, claims ownership of the vessel.
In their effort to retrieve the megayacht, Guryeva-Motlokhov’s legal team has demanded access to documents and information related to various financial transactions and wire transfers concerning seven individuals and twelve entities over the past five years.
Martin De Luca from Boies Schiller Flexner LLP commented, “The missing millions from the Alfa Nero’s sale are only the beginning,” indicating that discovery efforts aim to uncover the potential existence of covert deals intended for personal gain.
Among those targeted by the legal action are Antigua’s Prime Minister Gaston Browne, his wife, their son, and the island’s general accountant along with its port manager. Entities involved include West Indies Oil Company Ltd., partly government-owned, and Fancy Bridge Ltd., a Hong Kong-based investment firm linked to Petróleos de Venezuela S.A. (PDVSA).
Originally stationed in Antigua when the Ukraine conflict began in February 2022, the yacht was initially free from U.S. sanctions. Nonetheless, Antigua prevented its departure for several months, as per legal documents. By August 2022, Guryev was sanctioned by the U.S. Treasury Department, portrayed as part of a “Kremlin-connected elite,” and closely associated with Russian President Vladimir Putin. The yacht was also labeled “blocked property” to hinder its tracking and possible seizure.
In June 2023, the U.S. lifted sanctions on the yacht to facilitate its liquidation by Antigua authorities. The island government had modified a local law to declare vessels abandoned and auction them off, including the Alfa Nero. Although Schmidt initially bid $67 million, he and other bidders withdrew.
Finally, in July 2024, the yacht was sold to an undisclosed bidder for approximately $40 million, as noted in legal documents, significantly less than its original $120 million valuation. Private investigators subsequently identified the buyers as members of the Yildirim Group, a Turkish conglomerate in construction and shipping.
Questions have since arisen over the proceeds from the sale, with members of the opposition in Antigua demanding disclosure on how the funds were utilized. To date, no official information has been released.
Opposition Party chairperson D. Gisele Isaac stated, “The prime minister only releases the information he wants known.” Despite Antigua and Barbuda enacting a Freedom of Information Act, the absence of a physical office for the information commissioner complicates matters. Isaac argued that funds from the yacht’s sale should aid Ukraine’s reconstruction.
Prime Minister Browne’s wife, Maria Browne, informed a local newspaper in mid-2024 that proceeds were used to settle government debts. However, competing reports from Browne himself mentioned considerations to use the money for a resort. Eventually, the legal filing revealed that nearly $10 million from the sale remains untracked.
The saga continues with ongoing legal challenges related to the yacht in both Russia and the Eastern Caribbean Supreme Court. One lawsuit contends the seizure was unconstitutional, with Browne labeling legal actions initiated by Guryeva-Motlokhov as “frivolous.”
