Seized Russian Superyacht To Be Auctioned, With Proceeds Going To J.P. Morgan

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.

Seized Russian Superyacht To Be Auctioned, With Proceeds Going To J.P. Morgan 1

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.

Seized Russian Superyacht To Be Auctioned, With Proceeds Going To J.P. Morgan 2

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.

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In March, the yacht, Axioma, was impounded in Gibraltar. Although it is now assessed at £63 million, it is anticipated that the bid price will be lower.

Pumpyansky failed to repay a $20.6 million loan that was covered by the yacht, so J.P. Morgan obtained a court order in Gibraltar last month allowing the sale of the yacht.

The ship has what every fishing vessel absolutely needs, including a swimming pool and a 3D cinema. According to Hollyer, there is “staggering amount of interest” in the auction. According to him, the yacht was the subject of roughly 115 inquiries and more than twenty inspections.

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3 COMMENTS

  1. Nothing new here. JP Morgan/Chase has been stealing for years. There’s no limit to their greed.
    Unlike other banks, JP Morgan won’t settle—it uses the political influence to avoid all legal accountability.
    The Russian oligarch was sanctioned, in a very much political move against Putin and his cronies. Biden and his cronies—including Jamie Dimon, JPMorgan’s chairman—use their authority to help each other financially, or to rig elections by stuffing ballot boxes like in 2020, demonstrated by the drop box to drop box geolocation data as seen in ‘2000 Mules.’
    Another example is JP Morgan’s spoofing, where gold and silver trades were criminally rigged. Or at least a Federal jury recently determined. (https://www.zerohedge.com/markets/jp-morgan-gold-trading-boss-former-lbma-board-member-found-guilty-us-jury

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