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from Jorge Fitz-Gibbon | New York Post.
His secret girlfriend has lots of secret wealth.
Russian President Vladimir Putinxe2x80x99s longtime mistress has an estimated net worth of $100 million in xe2x80x9cshadow wealth,xe2x80x9d including swanky apartments and a yacht, despite her modest background, a trove of newly leaked documents reveal.
Svetlana Krivonogikh, 46, has been romantically linked with the Russian strongman since he was still deputy mayor of her hometown of St. Petersburg, and reportedly has a daughter with him.
But Krivonogikh xe2x80x94 who grew up in a communal apartment xe2x80x94 and other Putin cronies have been enriched through shell companies in the Virgin Islands and elsewhere, the Guardian reported.
In September 2003, an offshore company called Brockville Development Limited xe2x80x94 through two other Panamanian companies xe2x80x94 bought her a luxury fourth-floor apartment in Monte Carlo. Shexe2x80x99s also acquired a flat in St. Petersburg and other valuable assets, according to the reporting.
Krivonogikh is far from alone in benefiting from a long-standing relationship with Putin.
For years Russiaxe2x80x99s inner circle has gravitated to Monaco, where lax tax laws and policies have made the waterfront city a favorite for the wealthy.
xe2x80x9cIt has become Moscow-on-Sea. The mentality is to show off,xe2x80x9d local lawyer Dominique Anastasis told the Guardian. xe2x80x9cNobody asks where your money comes from. Therexe2x80x99s no culture of checking. You donxe2x80x99t make a tax declaration.xe2x80x9d
Among the wealthiest of the Russian-Monaco circle is Gennady Timchenko, a former Soviet bureaucrat who has been friends with Putin since the 1990s.
A former oil trader, Timchenko was given an oil export license by Putin in 1991, and later co-founded a Swiss-based oil export company named Gunvor xe2x80x94 with the Russian president long rumored to be a silent partner in the firm.
Forbes reported Timchenkoxe2x80x99s net worth at $22 billion, the outlet said.
Another member of Putinxe2x80x99s inner circle is Peter Kolbin, an old family friend, who took over as director of Leningrad-based International Petroleum Products in 2003 despite having few qualifications for the job.
Putin has denied ties to the lucrative companies detailed in the Pandora Papers.
But jailed Russian opposition leader Alexei Navalny has referred to Putin as xe2x80x9cthe worldxe2x80x99s richest man,xe2x80x9d according to the Guardian.