NEW YORK, May 15, 2017 /PRNewswire/ -- Prevezon Holdings, LLC ("Prevezon") today issued the following statement:
Today, Judge William Pauley, United States District Judge in the Southern District of New York, approved a stipulation dismissing with prejudice all claims in an asset forfeiture and money laundering action filed against Prevezon in September 2013.
Prevezon thanks Judge Pauley for his careful attention to this complex case, and is grateful for the Court's approval of the stipulation of dismissal. Prevezon also appreciates the U.S. Government's recognition that this deeply flawed case must be dismissed.
From the outset, Prevezon and its owner Denis Katsyv have maintained their innocence and affirmatively demonstrated that they had no involvement in or knowledge of any fraudulent activities and never received funds – knowingly or unknowingly – from these alleged activities. The U.S. Government has now admitted that it brought this case without conducting an independent investigation, relying exclusively on the claims of William Browder, a convicted tax evader who CBS News reported in 2012 renounced his U.S. citizenship to avoid paying U.S. taxes.
Prevezon agreed to settle this case for less than three percent of the amount initially sought by the U.S. Government (see Paragraph 153 of the original Complaint). Using the most conservative estimates, the government's offer was far less than the amount of U.S. taxpayer money it wasted in pursuing Browder's misguided theories. Prevezon, by contrast, settled for less than the costs it would have incurred to pursue the litigation.
Significantly, the U.S. Government did not forfeit any of Prevezon's assets, did not claim that Prevezon had laundered any money, and has agreed to lift the freeze on all of Prevezon's assets on a worldwide basis. The U.S. Government has also agreed to inform all foreign governments relevant to this matter of these facts.
Contrary to the false statements to the media by a spokesman for the Manhattan U.S. Attorney's office, the fee Prevezon agreed to pay did not include any "laundered money." In fact, the settlement language proposed by the U.S. Government and agreed to by Prevezon wholly excluded any such false claim. It is disappointing that the government's spokesman made such a critical factual error, and Prevezon respectfully calls upon the government to withdraw any statements that contradict the stipulation of dismissal signed by Judge Pauley.
Prevezon and Mr. Katsyv look forward to resuming their business activities and putting this ill-conceived case behind them.
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SOURCE Prevezon Holdings, LLC