According to a Bloomberg report, the seized super yacht of Russian businessman Dmitry Pumpyansky will be auctioned with the proceeds going to J.P. Morgan after he secured a court order in Gibraltar last month allowing the sale of the yacht.
It's the American way to seize other people's possessions in order to enrich our massive investment banks.
According to this week's Bloomberg report, a large luxury superyacht that was impounded as part of this year's Western sanctions on Russia will be auctioned off to pay J.P. Morgan.
According to the report, Dmitry Pumpyansky, a sanctioned Russian businessman, allegedly defaulted on a loan from J.P. Morgan, causing the boat he had owned to be put up for sale on Tuesday.
It will be the first superyacht auctioned since the sanctions took effect, which caused yachts to become stranded in ports all around the world, claims Nigel Hollyer, a broker at auction house Howe Robinson Partners.
In March, the yacht, Axioma, was impound...
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