The former owner of Chelsea football club has been subject to sanctions by the United Kingdom and the EU, but has so far denied any financial ties to the Russian leader.
Now, leaked documents from Cyprus reveal new evidence linking him to a secret $40 million in a deal worth US dollars in 2010, according to the BBC.
R. Abramović did not respond to requests to comment on the situation.
In a secret deal, two members of V. Putin’s inner circle were transferred the extremely profitable shares of the Russian advertising company Video International for less than they seemed to be worth. They passed into other hands from the companies that belonged to the fund associated with R. Abramović. The people of Putin’s entourage, in turn, received millions of dollars in dividends.
BBC Newsnight, BBC Verify and Panorama worked with the Office of Investigative Journalism to uncover these facts as part of Cyprus Confidential, a global investigation led by journalists from the International Consortium for Investigative Journalism and Paper Trail Media.
Confidential documents reveal that one of the men involved in the secret deal was Sergei Roldugin, a close friend of the Russian president.
Cellist S. Rolduginas is the artistic director of the St. Petersburg Music House. He has known Vladimir Putin since the two lived in St Petersburg as youngsters and reportedly introduced him to Lyudmila Shkrebneva, whom the future president married in 1983. (now they are divorced). S. Rolduginas is the godfather of their first daughter Maria.
The second husband is another close associate of President V. Putin – Alexander Plechov, a biochemist-turned-entrepreneur, also from St. Petersburg.
S.Roldugin and A.Plechov were accused of being “wallets” of President V.Putin – they secretly kept money and property in his name.
Earlier this year, Swiss prosecutors suspected that they were merely intermediaries, not the real owners, of the assets held in bank accounts set up as a result of the Video International deal.
The court did not identify any individual as the actual ultimate beneficial owner of the accounts.
in 2021 President Putin’s salary was a little over $100,000. However, it is rumored that his fortune could be worth from 125 billion. up to 200 billion US dollars and is hidden in a network of fictitious companies and friends’ accounts, the BBC claims.
The United Kingdom government imposes sanctions on A.Plechov, and S.Roldugin is also sanctioned by the United Kingdom, the EU and the United States, which described him as “the custodian of President Putin’s offshore assets.”
The deal
A complex web of Cypriot and BVI companies and a trust fund have so far concealed the football mogul’s involvement in the deal.
Leaked documents reveal the former Chelsea manager’s connections with two companies that in 2003 acquired a total of 25 percent. stake in Video International.
These two companies, Finoto Holdings and Grosora Holdings, were established in 2003. at the beginning Both of them, through several fictitious companies, eventually belonged to the “Sara Trust Settlement”, a trust fund whose ultimate beneficiary was R. Abramović, the BBC reports.
Each company in 2003 in September purchased 12.5 roc. The shares of the Russian advertising giant for the same price – about 130,000 US dollars each.
The price paid was “ridiculous,” says Vladimir Milov, a former energy minister in President Putin’s first term and now a vocal opposition leader. “Obviously that stake was worth a lot more, many times over,” he said.
At the time of the purchase, Video International held a dominant position in the country’s television advertising market, owning a share of any advertising airtime purchased on Russian channels.
According to V. Milov, the company was “half a step away from the Kremlin administration”.
For the next seven years, R. Abramović had a stake in Video International. At one point, the company declared “more than 2 billion turnover of US dollars”. During that period, Finoto and Grosora were paid 30 million. US dollar dividends, the BBC claims.
in 2010 Video International reported $3 billion. US dollar income. However, that year both Finoto and Grosora sold their investments for only 20 million. US dollars, that is, at a price lower than the fair market value.
Finoto Holdings sold its stake to Med Media Network, which is nominally owned by Sergey Roldugin.
On the same day that Finoto Holdings was sold, another company related to R. Abramović, Grosora Holdings, sold its 12.5 percent. a stake in the company “Namiral Trading Ltd”, later associated with Alexander Plechov.
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#BBC #secret #million #dollar #deal #connects #Abramovich #Putins #wallets
2024-09-16 15:59:02
The Video International deal, raising eyebrows about the legitimacy of the transaction and his connections to Putin’s allies. As investigations continue, the implications of these financial maneuvers could have far-reaching consequences for Abramovich’s reputation and future dealings.
Table of Contents
- 1 The Video International deal, raising eyebrows about the legitimacy of the transaction and his connections to Putin’s allies. As investigations continue, the implications of these financial maneuvers could have far-reaching consequences for Abramovich’s reputation and future dealings.
- 2 What are the implications of Roman Abramovich’s leaked financial dealings with Putin’s inner circle?
Roman Abramovich‘s Secret Deal: Uncovering the $40 Million Link to Putin’s Inner Circle
Introduction
The former owner of Chelsea Football Club, Roman Abramovich, has long been shrouded in controversy. Recently, the United Kingdom and the European Union imposed sanctions on him, citing his alleged financial ties to Russian President Vladimir Putin. Abramovich has consistently denied any such connections. However, a bombshell revelation has shed new light on his dealings, exposing a secret $40 million deal that links him to Putin’s inner circle.
The Leaked Documents
Documents leaked from Cyprus reveal a complex web of transactions that conceal Abramovich’s involvement in the deal. The evidence suggests that two members of Putin’s inner circle, Sergei Roldugin and Alexander Plechov, were transferred valuable shares of the Russian advertising company Video International at a significantly undervalued price. The companies associated with Abramovich’s fund received millions of dollars in dividends.
The Inner Circle
Sergei Roldugin, a close friend of Putin’s, is a cellist and the artistic director of the St. Petersburg Music House. He has known Putin since their childhood and reportedly introduced him to his future wife, Lyudmila Shkrebneva. Roldugin is also the godfather of Putin’s first daughter, Maria. Alexander Plechov, a biochemist-turned-entrepreneur, is another associate of Putin’s from St. Petersburg.
The Accusations
Both Roldugin and Plechov have been accused of being “wallets” for Putin, secretly holding money and assets on his behalf. Swiss prosecutors have suspected that they are merely intermediaries, not the real owners, of the assets held in bank accounts set up as a result of the Video International deal.
The Deal
The leaked documents reveal that Abramovich had a stake in Video International through two Cypriot companies, Finoto Holdings and Grosora Holdings. These companies were established in 2003 and acquired a total of 25% stake in Video International. The price paid was significantly lower than the fair market value, with each company paying around $130,000 for a 12.5% stake.
The Dividends
Over the next seven years, Abramovich received $30 million in dividends from
What are the implications of Roman Abramovich’s leaked financial dealings with Putin’s inner circle?
Roman Abramovich’s Secret Deal: Leaked Documents Reveal Ties to Putin’s Inner Circle
Roman Abramovich, the former owner of Chelsea Football Club, has been at the center of controversy surrounding his financial dealings, particularly in regards to his alleged ties to Russian President Vladimir Putin. Despite repeated denials, new evidence has emerged linking Abramovich to a secret $40 million deal in 2010, involving members of Putin’s inner circle.
According to leaked documents from Cyprus, Abramovich was involved in a complex web of companies and a trust fund that concealed his connection to the deal. The documents reveal that two companies, Finoto Holdings and Grosora Holdings, acquired a 25% stake in the Russian advertising company Video International in 2003. These companies, established in 2003, were eventually owned by the “Sara Trust Settlement”, a trust fund whose ultimate beneficiary was Abramovich.
The deal involved the transfer of shares in Video International to two members of Putin’s inner circle, Sergei Roldugin and Alexander Plechov, at a significantly undervalued price. Roldugin, a close friend of Putin’s, is the artistic director of the St. Petersburg Music House and has known Putin since they were youngsters. Plechov, a biochemist-turned-entrepreneur, is also from St. Petersburg and has been accused of being a “wallet” for Putin, secretly holding money and property in his name.
The leaked documents suggest that Abramovich’s involvement in the deal was concealed through a complex network of Cypriot and BVI companies and the trust fund. The shares were sold to Roldugin and Plechov for a “ridiculous” price of around $130,000 each, according to Vladimir Milov, a former energy minister in Putin’s government and now a vocal opposition leader.
The deal is significant not only because of its value but also because of the individuals involved. Roldugin and Plechov have been accused of being “wallets” for Putin, holding his assets secretly. The deal raises questions about Abramovich’s financial ties to Putin and his inner circle, and whether he has been involved in hiding Putin’s alleged vast fortune, estimated to be worth between $125 billion and $200 billion.
The UK government has imposed sanctions on Plechov, while Roldugin has been sanctioned by the UK, EU, and US, which has described him as “the custodian of President Putin’s offshore assets.” Abramovich has denied any financial ties to Putin, but the leaked documents suggest otherwise.
The investigation, led by the International Consortium for Investigative Journalism and Paper Trail Media, has shed new light on the complex web of financial dealings surrounding Putin’s inner circle. The revelations have sparked renewed calls for greater transparency in the financial dealings of politicians and their associates.
Keywords: Roman Abramovich, Vladimir Putin, Sergei Roldugin, Alexander Plechov, Video International, Chelsea Football Club, sanctions, offshore assets, financial dealings, corruption.
Meta Description: Leaked documents reveal Roman Abramovich’s secret deal with Putin’s inner circle, raising questions about his financial ties to the Russian president and his alleged fortune.
Header Tags:
H1: Roman Abramovich’s Secret Deal: Leaked Documents Reveal Ties to Putin’s Inner Circle
H2: The Deal
H2: The Individuals Involved
H2: The Implications
* H2: The Investigation
