Leaked documents allegedly reveal hidden offshore assets of Vladimir Putin’s inner circle

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Vladimir Putin’s personal wealth is a regular topic of discussion in the upper echelons of world power and business. It’s also a topic that we’ve covered at length here at CelebrityNetWorth. Search for “Vladimir Putin Wealth” on the CNW and you will find about two dozen articles on the subject dating back almost a decade. We currently estimate Vladimir Putin’s net worth at $ 70 billion. Some sources have estimated the number as high as $ 200 billion. Even at “only” 70 billion dollars, Vladimir would be the 15th richest person in the world.

Vladimir has long denied controlling a huge fortune. His official position is that he is not a billionaire, not even a millionaire. His most recent financial disclosure described a relatively meager net worth of $ 180,000 in a savings account, a few Russian-made cars, and a 16,000-square-foot property in the Moscow suburbs. He makes a little over $ 100,000 a year.

On the flip side, there have been rumors that Vladimir spent $ 1.4 billion on a personal palace and allegations that he secretly owns extremely valuable stakes in several oil, gas and chemical companies.

And then there’s the fact that some of Vladimir’s close friends, family members, and even supposed girlfriends are somehow sitting on huge fortunes that appear out of nowhere. For example, have you ever heard the story of Putin’s ex-son-in-law allegedly receiving $ 400 million from a chemical company as a wedding gift? My favorite wedding present was a Dyson Trigger handheld vacuum cleaner, which retails for about $ 350. If you have the resources, I highly recommend it. It really sucks.

Today thanks to the guard, the BBC and the International Consortium of Investigative Journalism (ICIJ) shed new light on the hidden riches of a handful of world leaders, including Putin and his inner circle.

Vladimir Putin's secret wealth

(Photo by Harry Engels / Getty Images)

A general disclaimer: the anecdotes we describe in this article come from coverage by the Guardian. We haven’t seen the Pandora Papers and can’t verify anything. We will try to keep the use of “alleged” and “alleged” to a minimum, but everything is purported and unconfirmed. I’m also pretty sure these allegations will be denied by the parties involved, if they haven’t already …

On Sunday, the guard dropped a bomb report describing a literal treasure trove of documents known as the “Pandora Papers”.

The Pandora Papers consists of 12 million documents leaked to the International Consortium of Investigative Journalism (ICIJ). Those 12 million documents came from 14 financial services companies processing transactions for the very wealthy. The financial firms are based in Singapore, Panama, Belize, Cyprus, Switzerland, the United Arab Emirates and the British Virgin Islands.

One of the most high-profile allegations concerns a woman who is alleged to be Putin’s ex-girlfriend / baby mom.

A secret $ 100 million girlfriend?

Right outside the door, The Guardian tells the story of a luxury Monaco apartment that was bought for $ 4 million in 2003. The apartment was reportedly bought by a British Virgin Islands based company called Brockville Development Ltd. bought. Brockville is owned by two Panama-based companies: Sefton Securities and Radnor Investments.

According to the Pandora Papers, if you peel off the layers of mailbox companies around the world, the real and actual buyer in 2003 was a 28 year old woman named Sventlana Krivonogikh.

According to the Guardian, Svetlana – a woman of humble background who worked as a cleaning lady in department stores in the 1990s – somehow managed to acquire at least $ 100 million worth of assets over the past 20 years. Svetlana reportedly owns a yacht, a luxury apartment in her hometown of St. Petersburg, and several properties in Moscow.

Last year the Russian independent investigative body Proect claimed Svetlana befriended Putin in the 1990s when he was deputy mayor of St. Petersburg. She is said to have become Putin’s friend. In 2003, Svetlana had a daughter named Luiza. Proekt claims that Putin is the father.

Banks, weddings and ski resorts

Aside from private apartments and yachts, Proekt claims, Svetlana has also managed to acquire valuable stakes in a bank and even a ski resort, both of which are carrying some serious red flags from Putin.

According to the Guardian, Bank Rossiya was founded in the 1990s with seed capital from the Communist Party. A man named Yuri Kovalchuk, sometimes referred to as “Putin’s personal banker,” is the largest shareholder in Bank Rossiya. Yuri’s net worth peaked at around $ 2 billion before becoming a handful of prominent Russian entrepreneurs targeted by the U.S. Treasury Department with sanctions for their involvement in the 2014 Crimean crisis. Today his net worth is estimated at $ 650 million.

Svetlana – the cleaning lady who became a real estate mogul – allegedly owns around 3% of Bank Rossiya.

Nikolai Shamalov is another shareholder in Bank Rossiya. He is also one of the businessmen sanctioned by the Treasury Department in 2018.

Nikolai was working as a dentist in the 1980s when he befriended Putin. Over the next decade, Nikolai somehow managed to acquire a large portfolio of assets including his stake in the bank.

Through Bank Rossiya, Svetlana, Nikolai and Yuri allegedly own all parts of a luxury ski resort called Igora outside of St. Petersburg. Putin is very fond of Igora. He’s already skied there several times.

In 2013 Putin’s daughter married Katerina.

Guess where she got married? Igora.

Guess who hosted the event? Yuri Kovalchuk – Putin’s personal banker.

The name of Katerina’s bridegroom? Kirill. His last name? Shamalov.

Kirill is Nikolai’s son. Nikolai is the tycoon-turned dentist who has known Putin since the 1980s.

Kirill is the former son-in-law (he and Katerina divorced in 2018) who reportedly received a $ 400 million stake in a chemical company for $ 100 as a wedding gift.

This is part one of the Pandora Paper revelations. There are other stories about the King of Jordan, Tony Blair, the President of Azerbaijan and the Prime Minister of the Czech Republic. We’ll post the most interesting stories from the revelations and any subsequent episodes.

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