Oleg Deripaska Secretly Owned a Studio in America That Recorded Global Stars

Oleg Deripaska, the owner of "Rusal," secretly operated a music studio in California where global stars recorded until the studio's assets were frozen due to sanctions, NewsBox reports.

Oleg Deripaska, a billionaire, head of the aluminum giant "Rusal," and sponsor of the Kuban Cossack Choir, was found to have ties to the Western music industry.

In 2008, he purchased the renowned Ocean Studios near Los Angeles for $3.1 million through an offshore company registered in the British Virgin Islands. The studio, which hosted recordings for stars like Justin Timberlake, Robbie Williams, Kanye West, Mariah Carey, and many others, was initially transferred to Deripaska's cousin, Pavel Ezubov, and later to his former employee, Olga Shriki.

The trouble began in 2018 when sanctions were imposed on Deripaska. In 2021, the American bank Wells Fargo froze proceeds from the sale of the studio, which had been sold back in 2019 for over $3 million. According to the FBI, these funds were obtained in violation of sanction restrictions.

Ocean Studios, once a popular venue for recording global artists, had already fallen into crisis before the sanctions. Problems started with the theft of equipment, and attempts to resolve these issues ultimately led to the studio's sale. Now, Shriki, who managed the studio and its finances, faces up to 20 years in prison.

Deripaska's representatives insist that he no longer owned the studio before the sanctions were imposed. However, the investigation is ongoing.