In short
- OCCRP states authorities seized corporate bank accounts and approximately 57 internet domains allegedly used in the scheme.
- OCCRP notes Reiber allegedly certified to the U.S. government in 2022 and 2023 that Oxygen Forensics had no immediate or highest-level owner.
What happened
U.S. authorities charged Lee Reiber, CEO of Oxygen Forensics, and Oleg Sergeyevich Davydov, a Russian national, with conspiracy to commit wire fraud for allegedly concealing Russian ownership and software origins. Reiber was arrested in Idaho and released on bond, while Davydov was detained in London and the U.S. plans to seek his extradition.
Prosecutors allege Oxygen Forensics misrepresented itself as an independent American company while Russian nationals owned and controlled it through a Cyprus-based holding company. After expanded U.S. sanctions in 2022, the defendants allegedly hid Russian ownership and development operations, with Russian owners still making significant company decisions.
Reiber allegedly certified to the U.S. government in 2022 and 2023 that Oxygen Forensics had no immediate or highest-level owner.
In numbers
- 55 Age of Lee Reiber
- 52 Age of Oleg Sergeyevich Davydov
- 57 Number of internet domains seized
Named in this item
Organization, victim US — —
What compliance teams should check
- Review all contracts with Oxygen Forensics, especially the five-year software contract awarded by the National Computer Forensics Institute in September 2024.
- Check for hidden ownership structures involving Cyprus-based holding companies and Russian nationals as described in the OCCRP report.
- Verify certifications made in 2022 and 2023 regarding ownership and development environment access, as referenced in the OCCRP story.
Why it matters
This case highlights the risks of concealed foreign ownership and misrepresentation in vendor relationships, especially with entities subject to U.S. sanctions. Compliance officers must ensure thorough due diligence on ownership structures and verify certifications provided to government agencies. The seizure of bank accounts and internet domains demonstrates the seriousness of enforcement actions and the need for robust controls to detect hidden connections to sanctioned jurisdictions and individuals.
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