An IMGlobalWealth.com News Report
Malta Revokes Citizenship of Russian Convicted in UK Money-Laundering Case
Malta has revoked the citizenship of Semen Kuksov, a 25-year-old Russian national convicted in the United Kingdom for laundering millions through what investigators described as a “professional banking service for criminals worldwide.”
Kuksov and his father, Vladimir, both obtained Maltese passports in 2022 through the country’s citizenship-by-investment programme, which allowed wealthy applicants to acquire citizenship by contributing between €600,000 and €750,000 alongside qualifying property investments.
Kuksov was sentenced in Britain to five years and seven months for laundering more than €14 million as part of Operation Destabilise, a UK National Crime Agency (NCA) probe into Russian-linked laundering networks. Investigators found that these networks exchanged cryptocurrency for cash across borders to finance ransomware operations, narcotics trafficking, and luxury purchases by sanctioned elites.
The NCA said Kuksov operated a global cash-for-crypto exchange “serving criminals who could not access legitimate banking channels.” Surveillance footage and intercepted couriers revealed how vast sums were moved in ordinary goods, including boxes of washing powder. British authorities ultimately seized more than £20 million in cash, exposing links between Russian oligarchs, UK drug cartels, and South American cocaine traffickers.
IMGlobalWealth.com News was among the first media outlets to report on Kuksov’s case in December 2024, publishing details of his laundering network and submitting questions to the Maltese authorities about whether his citizenship would be reviewed. The government’s decision this week confirms that such a review has now led to his formal deprivation of citizenship.
Kuksov’s father has publicly distanced himself from his son and is not implicated in the case. Malta’s Community Malta Agency confirmed that, following its internal review, Kuksov has been “deprived of Maltese citizenship.”
