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In the race to seize assets tied to sanctioned Russian billionaires, U.S. authorities are alleging that a Russian tycoon acted as the “straw owner” of two yachts worth more than $1 billion, including the $700 million Scheherazade, a superyacht linked to Russian President Vladimir Putin.

Court filings in the South Pacific island of Fiji, where the U.S. is trying to seize the $325 million yacht Amadea, reveal what U.S. officials allege is a nest of offshore shell companies that were set up with the help of a yacht broker to conceal the true owners of both vessels — an allegation that lawyers for the listed owner and the broker dispute. A hearing is scheduled for Wednesday in Fiji on the fate of Amadea.

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