The documents, from around 214,000 offshore entities covering almost 40 years, came from Mossack Fonseca, a Panama-based law firm with offices in more than 35 countries.
A massive leak of 11.5 million documents has exposed the secret offshore dealings of aides linked to Russian president Vladimir Putin, as well as other world leaders and celebrities. An investigation into the documents by more than 100 media groups, described as one of the largest such probes in history, revealed the hidden offshore dealings in the assets of around 140 political figures.
The investigations allege that close associates of Putin, who is not himself named in the documents, "secretly shuffled as much as US $2 billion through banks and shadow companies".
The report by ICIJ says that Vladimir Putin and Sergey Roldugin had forged a bond as young men. The leaked documents reveal that Roldugin, who is a famous classical cellist and conductor, is also a behind-the-scenes player in a clandestine network operated by Putin associates that has shuffled at least $2 billion through banks and offshore companies.
In the documents, Roldugin is listed as the owner of offshore companies that have obtained payments from other companies worth tens of millions of dollars, said the report.
"The records reveal what until now has mostly been the stuff of rumor: how Putin’s cronies secretly conduct their business. The law firm’s internal files show how minions and proxies created structures to hide and move the secret wealth. The records include email correspondence, bank account forms, loan agreements, share transactions and passport scans. Dates, cash amounts and contract terms are detailed," the report added.
The vast stash of records was obtained from an anonymous source by German daily Sueddeutsche Zeitung and shared with media worldwide by the International Consortium of Investigative Journalists (ICIJ).
You can watch a video by Guardian on the money network tied to Russia's Vladimir Putin below:
(With Agency inputs)
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