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Secret deals, hidden accounts, huge fortune: Scathing report on Vladimir Putin
Under the deal, shares were transferred to a highly profitable Russian advertising company, Video International.
Leaked documents reveal a money trail linking ormer Chelsea Football Club owner Roman Abramovich to two men dubbed "wallets" of Russian president Vladimir Putin. Roman Abramovich has been sanctioned by the UK and EU but has previously denied any financial relationship with the Russian leader. Now, leaked documents from Cyprus reveal show evidence linking him to a secret $40 million deal in 2010.
Under the deal, shares were transferred to a highly profitable Russian advertising company, Video International - for less than they appeared to be worth, BBC reported. This was sent from companies ultimately owned by a trust connected with Roman Abramovich to two members of Vladimir Putin's inner circle. They received millions of dollars in dividends, it was reported.
Records reveal that one of the men involved in the secret deal was Sergei Roldugin, a close friend of the Russian president. Sergei Roldugin is the artistic director of the St Petersburg Music House and has known Vladimir Putin since they were young. The second man is another close associate of Vladimir Putin - Alexander Plekhov, a biochemist-turned-businessman.
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They have both been accused of being "wallets" for the Russian president- secretly holding money and assets on his behalf.
Earlier this year, Swiss prosecutors alleged they were "straw men", and not the real owners of assets in bank accounts. Vladimir Putin's stated salary in 2021 was just over $100,000 (£72,700) but it was reported that his fortune could be worth anywhere between $125billion and $200billion.
On Roman Abramovich, the EU said, "He has had privileged access to the president, and has maintained very good relations with him. This connection with the Russian leader helped him to maintain his considerable wealth."
Roman Abramovich challenged the EU sanctions in court earlier this year as he claimed that the restrictions were prompted by the Russian businessman's "celebrity" rather than "based on evidence".
