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Alternative Market Briefing

Hedge fund manager Bill Browder says Putin’s net-worth could reach $200bn

Monday, February 16, 2015

Komfie Manalo, Opalesque Asia:

Hermitage Capital Management co-founder and once the largest foreign investor in Russia, William (Bill) Browder, estimated Vladimir Putin’s net-worth at $200bn and described the Kremlin leader as at the center of corruption in Moscow.

In an interview with CNN’s Fareed Zakaria, Browder said that the first eight or 10 years of Putin’s regime in Russia was centered on "stealing as much as he could." He said he believes that Putin is one of the richest men in the world with "hundreds of billions of dollars of wealth that was stolen from Russia."

He was quoted as saying, "I believe that it's $200 billion. After 14 years in power of Russia, and the amount of money that the country has made, and the amount of money that hasn't been spent on schools and roads and hospitals and so on, all that money is in property, bank - Swiss bank accounts, shares, hedge funds, managed for Putin and his cronies."

Browder also accused Putin and his cronies of killing his lawyer Sergei Magnitsky for money. Putin, he said, should not be allowed to travel to America to keep his accounts in the country and to spend his money there.

"The power is very simple in Russia - whoever has the power to arrest people is the person in power. And so what Putin does is he has a bunch of guys around him who have t......................

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