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Venture firm relied on bad legal advice for work with Russian oligarch, US says

By Samuel Rubenfeld ( June 13, 2025, 21:19 GMT | Comment) -- A San Francisco venture capital firm turned to lawyers in 2018 for an opinion on whether US sanctions imposed on a Russian billionaire would apply to its investments. The advice GVA Capital received was incorrect, and the firm continued for years to do business that involved assets blocked because of the blacklisted Russian businessman’s ownership interest, according to a recent $216 million penalty imposed this week by the US Treasury Department.A San Francisco venture capital firm turned to lawyers in 2018 for an opinion on whether US sanctions imposed on a Russian billionaire would apply to its investments....

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