"The sale of the Amadea, a 106-meter luxury yacht that the government said it seized from sanctioned Russian oligarch Suleiman Kerimov in 2022, was finalized in October, Business Insider previously reported. New registration documents reveal that an entity linked to Sajwani and his Damac Group is behind the purchase. As of October 10, the owner of the yacht was listed as Beyond Holdings Group Limited, a company registered in the British Virgin Islands - a popular flag for superyachts, given its favorable tax policy and strict confidentiality rules."
"Beyond Holdings Group's headquarters is located in Dubai, on the 20th floor of the Executive Heights tower, according to Bloomberg's Legal Entity Identifier. That exact address is the headquarters of Damac, the conglomerate owned by billionaire Sajwani. The entity's former name, AHS Four Company Limited, also connects to Sajwani. His son Abbas Sajwani's yacht is named AHS, after his initials, and is owned by a company called AHS One Company Limited."
"Both yachts,AHS and the Amadea, are managed by the Monaco-based firm Superyacht Partners, which charters out the former for as much as $600,000 a week. Hussain Sajwani, Abbas Sajwani, and Superyacht Partners did not respond to requests for comment. The United States Marshals Service declined to comment. The Amadea was believed to be worth at least $300 million at the time of its seizure, the Department of Justice said in a press release. A later appraisal put its value closer to $230 million, court documents said."
Amadea, a 106-meter luxury yacht seized from sanctioned Russian oligarch Suleiman Kerimov in 2022, had its sale finalized in October. Ownership was recorded under Beyond Holdings Group Limited, a British Virgin Islands company whose listed headquarters is the 20th floor of Dubai’s Executive Heights tower—the same address used by Damac. The entity’s former name, AHS Four Company Limited, links to Hussain Sajwani and his son, who owns a yacht named AHS. Both yachts are managed by Monaco-based Superyacht Partners. Initial valuations ranged roughly from $300 million to $230 million. Sajwani has ties to Donald Trump and a $20 billion Damac US investment was announced earlier this year. Requests for comment were declined or unanswered.
Read at Business Insider
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