On Thursday, Biden administration officials announced criminal conspiracy plans to auction the internationally luxurious, gold-clad, 348-foot superyacht Amadea, with a value of nearly $325 million. The U.S. government seized the maroon-hulled vessel, alleging it belongs to Putin-affiliated Russian oligarch Suleiman Kerimov. Nonetheless, as ProPublica later reported, the yacht is reportedly registered not to Usher but instead to Millemarin Investments Ltd. in the Cayman Islands.
Luxury Lürssen, the upmarket German shipbuilder, originally bespoke the Amadea for her owner in 2017. Its stunning design is by the immensely gifted François Zuretti. The yacht truly is a breathtaking achievement in engineering. Inside, it has a luxurious interior resplendent with tons of marble work done in exotic and colorful patterns and arrangements. It’s able to accommodate 16 lucky guests in eight lavish state rooms. A singularly focused crew of 36 will see that all 225 passengers onboard receive five-star luxury service and comfort.
That is, it would be if the luxury yacht weren’t equipped with a beauty salon, spa, gymnasium and an actual swimming pool. For those who want to see the beauty of the Seychelles from the sky, the Amadea boasts a helipad. It even boasts a scenic elevator making access between its multiple floors a breeze.
The U.S. government claims that Eduard Khudainatov is a straw owner of the Amadea. In doing so, they argue that he should bear ownership for Kerimov. Yet, Khudainatov insists he is the rightful owner of the yacht. Because of the existing ownership fight, there is no clear picture about the yacht’s potential marketability. Buyers may be faced with extensive, costly legal liability as a consequence.
Rep. Adam Ford, one of the legislators involved in the case, told CitiesSpeak he was doubtful about the auction’s prospects. He stated, “We doubt it will attract any rational buyer at fair market price, because ownership can, and will, be challenged in courts outside the United States, exposing purchasers to years of costly, uncertain litigation.”
Ford’s letter also responded to the government’s stated reasons for continuing with the auction. “Should the government press ahead simply to staunch the mounting costs it is imposing on the American taxpayer, we will pursue the sale proceeds, and any shortfall from fair market value, once we prevail in court.”
The auction of the Amadea will be quite the spectacle. It arrives against a backdrop of the latest chapter in continuing saga of glamorous assets linked to Russian oligarchs and the larger geopolitical backdrop and fallout. The final result will have huge consequences for consumers. It could affect how the U.S. government seizes assets in the first place and further impact the legal landscape for ownership claims.
