The Dacha Wintera was financed through an offshore company owned by Sergey Roldugin, information from the Panama Papers indicate. Photo: dachawintera.ru

In Panama Papers, a trace to Karelia

Investigative journalists find a link between notorious violinist Sergey Roldugin and a posh hotel and leisure complex in the Republic of Karelia.
апреля 05, 2016

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The eleven million documents obtained from Panama law firm Mossack Fonseca include information about Dacha Wintera, a first-class hotel company located on the banks of great Lake Ladoga. A key figure in what appears to be a dubious deal is Sergey Roldugin, the musician and friend of Putin, 7-7-journal.ru reports with reference to Novaya Gazeta.

The information stems from the Süddeutsche Zeitung and the International Consortium of Investigative Journalists, and their huge roll-up of international illegal and dubious financial deals. Since early 2015, around 400 journalists from more than 100 media organizations in over 80 countries have taken part in researching 2.6 terabytes of data handed over by an anonymous source. 

According to the information, Roldugin and his Panama-registered company Sandalwood Continental in 2011 on favorable conditions granted credits worth a total of 90 million rubles to Igora and Nord House, two companies associated with the development of the Dacha Wintera hotel complex.

A key part of the story is also the Bank Rossiya, a credit institution controlled by Yuri Kovalchuk, the business tycoon and long-time friend of President Putin.

According to 7x7-journal, Bank Rossiya in 2010 cashed out 100 million ruble for the major piece of land along Lake Ladoga. 

The area soon became unavailable for locals, who quickly assumed that it was controlled by Putin and people associated with the Kremlin.

Hotel Dacha Wintera is located near the town Sortavala only few kilometers from the border to Finland.

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