Merckx index said:A while back I quoted an American businessman very familiar with Russia who suggested Putin might be the richest man in the world. The Guardian just published a story shedding more light on that claim:
A network of secret offshore deals and vast loans worth $2bn has laid a trail to Russia’s president, Vladimir Putin.
An unprecedented leak of documents shows how this money has made members of Putin’s close circle fabulously wealthy.
Though the president’s name does not appear in any of the records, the data reveals a pattern – his friends have earned millions from deals that seemingly could not have been secured without his patronage.
The documents suggest Putin’s family has benefited from this money – his friends’ fortunes appear his to spend.
The files are part of an unprecedented leak of millions of papers from the database of Mossack Fonseca, the world’s fourth biggest offshore law firm. They show how the rich and powerful are able to exploit secret offshore tax regimes in myriad ways.
Speculation over the size of Putin’s personal fortune has gone on for almost a decade, following reports in 2007 that he was worth at least $40bn, based on leaks from inside his own presidential administration.
The Putin circle’s use of offshore companies contrasts with the president’s call for “deoffshoreisation”, urging Russians to bring cash hidden abroad home. Others who make use of offshore companies include oil trader Gennady Timchenko, Putin’s friend of 30 years. The US imposed sanctions on him in 2014. Others in the data are Arkady and Boris Rotenberg, Putin’s childhood friends and former judo partners. They are now billionaire construction tycoons. The Arsenal FC shareholder Alisher Usmanov also appears. He has at least six companies registered in the Isle of Man. There is no suggestion this is illegal.
Dmitry Peskov, Putin’s official spokesman, declined to comment on specific allegations against the president. Speaking last week, Peskov said western spy agencies were behind an all-out “information attack” against him to destabilise Russia before elections. Peskov dismissed the investigation by the Guardian and others as an “undisguised, paid-for hack job”. He said Russia had “legal means” to defend Putin’s dignity and honour.
http://www.theguardian.com/news/2016/apr/03/panama-papers-money-hidden-offshore
Makes the Clintons look like amateurs
And yet he didn't have 5 crappy billion euro to loan to his buddies from the Cypriot political system, before the implementation of the haircut, which didn't hurt at all his rival oligarchs.