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Miami real estate broker has been convicted of money laundering for helping two sanctioned Russian oligarchs rent and sell luxury properties in Florida. Roman Sinyavsky pleaded guilty to conducting transactions involving blocked properties owned by Viktor Perevalov and Valeri Abramov, who were first sanctioned in 2018 for their involvement with a Russia-based construction firm that built a highway in Crimea.

    Despite being sanctioned, the oligarchs managed to purchase condos in Bal Harbour and Aventura. Sinyavsky conspired with others from 2018 to 2023 to violate federal laws by maintaining, transferring, selling, and leasing luxury condominiums owned by the oligarchs, collecting proceeds, and using them to maintain the properties.

    Sinyavsky faces up to five years in jail and a $1.1 million fine when sentenced on April 11. This conviction marks the first time a US realtor has been held responsible under federal laws for aiding money laundering through real estate transactions.

    Experts say this conviction could deter other brokers from working with foreign individuals accused of money laundering. Louise Shelley, a crime and corruption expert, notes that professionals in the industry will now be held accountable for their actions, which is a shift in policy.

    In the past, brokers were only subpoenaed to share information but not investigated or convicted themselves. The US government seized two properties and sold them for $1.8 million as part of the investigation.

    The Treasury Department has identified real estate professionals as a critical vulnerability in money laundering schemes due to their role in helping clients launder money through property transactions. A new rule requiring beneficial ownership information from buyers who purchase residential real estate in cash will go into effect later this year, aimed at stemming dirty money through US real estate.