Extra: For Sanctions Violating for Russian Kostin Vadim Wolfson Gets $1M Bond Can Talk CFO - named here

CFO identified and more in court, and now on X for Subscribers here and below paywall / subscribe line here

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, March 18 –     Vadim Wolfson, charged with violating US sanctions for and with Andrey Kostin, was arraigned on March 18 before U.S. District Court for the Southern District of New York Magistrate Judge Gary Stein. Inner City Press was there, the only media in the SDNY Mag Court, and got some exclusive material, link below. Thread: 

Vadim Wolfson has retained counsel (with two more in the gallery). 

Judge Stein: Welcome to the SDNY.

We are here for an arraignment. Mr. Wolfson you are charged with conspiracy to violate IEEPA, with regard to Mr. KostinJudge: The indictment references $12 million transferred to Mr. Kostin. You are alleged to have caused US persons including US financial institutions to deal with Mr. Kostin which they were not permitted do, and using a shell entity. There's a forfeiture allegation

Judge: How do you plead? Vadim Wolfson: Not guilty. AUSA: We have agreed to a $1 million bond, 50% secured. We want 2 financially responsible co-signers, he wants one. Also, we want GPS monitoring. Travel limited to WDTX, SDNY and EDNY - also CDCA for business

 AUSA: We believe there is a risk of flight. As the pre-trial services report reflects, he has only resided in the US since 2020. He has passports from Russia, Cyprus, Israel and the US. He has lived in Russia and Cyprus, extradition is difficult.AUSA: He has family living in Germany and Russia, and business in the UK. He had assets for $13 million, now updated to $20 million. He could flee... This concerns a house in Aspen, there is evidence he transferred to an entity under Kostin's control

 AUSA: Their relation goes back for years. The defendant's employee acknowledged that Andre Kostin had been sanctions. They had the property manager sign a NDA, about any prior owners Judge: Are there sizable assets outside the US? AUSA: Not listed - but yes

Judge: What happened in the WDTX? AUSA: My understanding is the Magistrate Judge thought we should have asked to detain him, so didn't impose GPS [?] Wolfson's lawyer: Mr. Wolfson when asked not to by the US not to travel to Israel, did not

Wolfson's lawyer: There was a real estate transaction prior to Mr. Kostin being put on the list. Mr. Wolfson dealt with a Russian financial institution not on the list. There is no evidence to support mens rea. His business partner in LA will co-sign.Wolfson's lawyer: My client owns 2 properties in Austin, Texas. He has ties here. Judge: How would curfew be a burden?

Wolfson's lawyer: He does business in LA, he could not fly.  Judge: He's wear the GPS monitor at meetings? Wolfson's lawyer: The 8 pm curfew

AUSA: If there needed to be an exception to the curfew for trial, Pre-Trial could approve it. There was an occasion he were alerted, not by him, that he had booked travel to Israel. There is significant international travel in 2023 to France and the Netherlands

 Wolfson's lawyer: That was the 2023 trip to Israel and Cyprus. There were no surprises. Judge: You cannot find a second co-signer? What about his wife?

AUSA: We could consider that.  Wolfson's lawyer: We want approval for contact with the CFO [named - links below]

Judge: I don't see a condition here of seeking or continuing employment. Would you have a problem with that? Wolfson's lawyer: No, Your Honor.  [Judge takes Pre-Trial into robing room - thread will continue - other lawyers now here for other cases

 Judge is back, all rise! Judge: I believe that electronic monitoring is required in this case given the risk of flight. So I will order that Mr. Wolfson is to sign a $1 million bond and be subject to GPS location monitoring and a curfew [Now his lawyer whispering

Judge: I understand that Mr. Wolfson's firearms have been placed in a storage locker under the control of his wife. That's different than surrender to law enforcement AUSA: He is willing to surrender them to law enforcement, he says

 Judge: No new bank accounts without permission, is that a problem? Wolfson's lawyer: He's been notified by two banks they will close his accounts. He has identified two new banks, this weekJudge: OK, those are the conditions.  [Wolfson leaves with his 3 lawyers, to sign his bond and get GPS location monitor installed on his ankle]

Judge: No contact with witnesses except the CFO

[identified in court, and now on X for Subscribers here and below paywall / subscribe line here