A congressman from Silicon Valley is requesting a federal investigation into a Menlo Park development, alleging that a Russian oligarch with purported ties to organized crime is involved. U.S. Representative Sam Liccardo, a Democrat, sent a letter on September 25, 2026, to Treasury Secretary Scott Bessent, claiming that the land for the development is owned by Vitaly Yusufov, who has been sanctioned by Ukraine and has connections to former Russian President Dmitry Medvedev. Liccardo expressed concerns about national security due to the project's proximity to technology companies.
Oisin Heneghan, founder of N17 Development, the developer of the project, responded to Liccardo’s claims, stating they are based on inaccurate reporting and described the opposition as driven by local residents resistant to new housing. Heneghan did not address whether Yusufov owns the land or the allegations regarding his criminal connections.
The project, proposed in 2023, has faced opposition from residents and officials who argue that its design, which includes three towers with hundreds of housing units, a hotel, and office space, does not fit the character of Menlo Park. The site was previously the headquarters of Sunset Magazine, established in 1951, and opponents have called for its preservation as a historic site.
Liccardo stated that while he supports housing development in Menlo Park, he is concerned about ownership by individuals with alleged ties to the Kremlin and criminal networks. He emphasized the project's location in Silicon Valley, near defense technology and research centers, and called for federal review.
Deutsche Bank had previously sold its stake in the project in 2019 due to concerns about potential suspicious activity linked to Yusufov. California Attorney General Rob Bonta supported the developer in July, arguing that Menlo Park had improperly denied the project and violated state law. Bonta's office has not commented on Liccardo's letter or any investigations into the alleged Russian ties.