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Monday, April 4, 2016

Massive Leak Ties Vladimir Putin’s Associates to $2 Billion Offshore Money Trail

A massive leak of confidential documents purports to show how allies of Russian President Vladimir Putin may be tied to a $2 billion offshore money trail.

Close friends and family members of the Russian leader have benefited from their relationship with him with millions of dollars made in secret deals, according to The Guardian. The newspaper pored over millions of files leaked from Panamanian law firm, Mossack Fonseca.

The documents were obtained from an anonymous source and shared by German newspaper Süddeutsche Zeitung and the International Consortium of Investigative Journalists with the Guardian, the BBC and other news outlets. The news outlets say the documents reveal that $2 billion has been secretly channeled through a network of banks and companies linked to Putin’s inner circle. The BBC says the files also show that the law firm allegedly helped many other clients launder money, dodge sanctions and evade tax.

Mossack Fonseca did not immediately respond to a request for comment from the Associated Press. A Putin spokesman said last week that it was bracing for an upcoming “information attack” and that an organization was trying to smear the Russian leader.


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