Pandora papers reveal hidden riches of Putin’s inner circle

In September 2003, a secret transaction took place. The location was Monaco, a tax haven associated with the international rich. Specifically, an exclusive block just beneath its lavish casino. An apartment changed hands. A local notary signed the deal. Purchase price: €3.6m (£3.1m). For this, the buyer got a luxury fourth-floor flat, two parking spaces, a storeroom, and the use of a pool in the Monte Carlo Star complex.

From the balcony the new owner could gaze down on Monaco’s sparkling marina, stuffed during the summer with floating superyachts. Security ensured...