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HomeU.S.APutin's former son-in-law purchased shares price $380m for $100, report says

Putin’s former son-in-law purchased shares price $380m for $100, report says

A Russian businessman who was married to Vladimir Putin’s daughter acquired an estimated $380m (£283m) stake in a Russian petrochemicals firm for simply $100, an investigation by Russia’s iStories investigative outlet has claimed.

The investigation, revealed in collaboration with the the Organised Crime and Corruption Reporting Mission (OCCRP), used a trove of leaked emails to shine new mild on the closed circle of household and associates who encompass the Russian president.

In response to the investigation, Kirill Shamalov, the son of a longtime good friend of Putin’s, bought the sizeable stake within the father or mother firm of petrochemicals large Sibur by means of an offshore firm. The deal was inked simply months after he married Katerina Tikhonova, a scientist and college official who’s extensively reported to be Putin’s youthful daughter.

“It’s easy,” wrote Alexey Navalny, an opposition politician and anti-corruption activist. “Putin’s daughter will get married and the newlyweds obtain the current of $380m.”

The pair additionally reportedly spent thousands and thousands of {dollars} shopping for and furnishing elite actual property close to Putin’s residence in Russia and in Biarritz, France, the emails confirmed, buying a virtually £50,000 carpet and £5,700 in Japanese books. It was a lifetime of luxurious that, like Putin’s daughters, has been hidden virtually fully from public view.

The emails, which have been offered to the investigative journalists by an nameless supply (presumably hacked, they famous), additionally revealed an ascendant circle of younger power-players from St Petersburg, who usually have been the youngsters and grandchildren of Putin and his buddies and colleagues in authorities.

The Guardian has approached Shamalov’s firm, Ladoga Administration, for remark. A consultant took a reporter’s contact info however wouldn’t reply to particular questions. Shamalov had estimated Sibur’s worth at $10bn in an interview with Kommersant, bringing his share to $380m, in response to his valuation.

In emailed remarks, a Sibur consultant confirmed to the Guardian that Shamalov had acquired shares within the firm underneath a stock-option plan for managers however didn’t affirm the worth. In a press release, Dmitry Konov, the pinnacle of the corporate’s board of administrators, stated: “The circumstances for the sale of the shares within the deal have been no completely different from these for quite a lot of different managers, there have been no unique circumstances for KN Shamalov.”

“The corporate is able to doc these circumstances with the engagement of unbiased specialists [from outside the company,]” an organization assertion stated.

The leaked emails, a few of which iStories and OCCRP stated they’d verified with Shamalov’s interlocutors, are a uncommon, documented take a look at how these in Putin’s circle handle to accumulate unbelievable wealth. A number of firms, together with telecommunications and builders, sought to carry Shamalov in as an investor after his marriage to Tikhonova.

A number of Russian retailers have launched exposes lately wanting on the Russian chief’s household and likewise his romantic life. One other article earlier this month steered that Putin had fathered a daughter with a lady who had later been named a shareholder to one among Russia’s most essential banks, making the previous cleaner an in a single day millionaire.

One other confirmed {that a} former Olympic gymnast rumoured to have been Putin’s girlfriend had acquired an annual wage of £7.7m as the pinnacle of a pro-Kremlin media group.

In all circumstances, the Kremlin has sought to sidestep the dangerous press.

“We nonetheless chorus from commenting on such publications,” stated Dmitri Peskov, a Putin spokesman, when requested in regards to the articles on Monday. “These rumours usually don’t have anything to do with actuality.”

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