A billionaire Russian businessman known to have ties to President Vladimir V. Putin of Russia and a company the businessman controlled have been the focus of a federal investigation into money laundering and oil trading, according to documents and people briefed on the matter.

A federal law enforcement official, who like others with knowledge of the case asked not to be named to discuss the inquiry, said Wednesday that “the Justice Department has launched a money-laundering investigation into Gennady Timchenko as part of its initiative to crack down on overseas corruption. The case is being led by federal prosecutors in Brooklyn and F.B.I. agents in New York.”

The inquiry, first reported by The Wall Street Journal, centers on Gunvor Group, a commodities trading firm whose founders included Mr. Timchenko, the people briefed on the matter said.

Image Gennady Timchenko is the focus of an investigation into money laundering and oil trading. Credit... Sergei Karpukhin/Reuters

In March, he sold his share of the company to his Swedish partner. That was a day before the White House added several businessmen with ties to Mr. Putin, including Mr. Timchenko, to a list of those facing sanctions over Russia’s incursions into Ukraine.