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‘Network’ holding $4.5 billion in Vladimir Putin-linked assets discovered: report

There has been a lot of speculation regarding the total net worth of Russian President Vladimir Putin and according to The Guardian a digital trail has revealed around $4.5billion (£3.7billion) in assets which are linked to it. The report shows a digital paper trail that links Putin to yachts, palaces and vineyards allegedly gifted to him by friends and oligarchs. The trail linked all assets to individuals, companies and charities which are linked by a common email domain name, LLCInvest.ru. The Guardian has accessed snapshots of leaked correspondence between the various administrators who manage the entities in charge of assets linked to Vladimir Putin.

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The findings were reviewed by an anti-corruption expert in Russia who said evidence found from the digital paper trail hints at some level of “joint management”.

“LLCInvest is first and foremost like a cooperative, or an association, in which its members can exchange profits and goods,” the expert told the Guardian on condition of anonymity.

Putin has often been criticized for amassing enormous wealth profiting from his presidency, but little evidence has surfaced. However, this was denied by the Kremlin.

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“The President of the Russian Federation is in no way connected or affiliated with the objects and organizations you named,” a Kremlin spokesman said on the matter.

A look at the documents revealed that there were 86 companies and nonprofits believed to be linked to the massive wealth. The investigation was conducted by the Organized Crime and Corruption Reporting Project (OCCRP) and the Russian-language news site Meduza.

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Post expires at 6:40pm on Thursday June 30th, 2022