Russian President Vladimir Putin and the Russian gymnast, head of the board of directors of the National Media Group (NMG) and the mother of his children Alina Kabaeva live together, most often in a residence in Valdai, which has already acquired a VIP village around, and to buy an elite real estate, they, like close heads of state, use Putin's funds hidden in Cyprus. Two parts of the investigation "Iron Masks" about the life of the head of state and Kabaeva were released by the "Project".
In the first series , the publication described the found Cypriot company Ermira Consultants, which recorded shares in important enterprises for Putin. The journalists met with the former business manager of one of the president's closest friends, who was involved in running a secret financial network, which included Ermira. The interlocutor said that until 2015 the company belonged to a figurehead – a lawyer from St. Petersburg Vladislav Kopylov. But in fact, Ermira's accounts were used to pay for purchases for Putin and his relatives. He also bought apartments and houses with this money.
“Kopylov is nobody, just a bum, both in essence and in appearance,” the source said. He called the company itself a "common fund". Kopylov was listed as the nominal owner until March 2015, after which the ownership passed to offshore companies, behind them, presumably, are the people of Arkady Rotenberg. The source of the publication said that Putin's relatives personally met with Arkady Rotenberg, Yuri Kovalchuk and their subordinates and said what they needed. After that, they bought housing with Ermira's money, for example, in 2011, Kabaeva bought four apartments in Sochi with this money, and registered them with trustees.
The journalists also found out that the Cypriot company was also enriched by the circulation of NMG shares, the head of the board of directors of which is Kabaeva. In 2013, Ermira acquired a 7.5% stake for 76 million euros, but three months later, it allegedly sold them to the structures of Gennady Timchenko for 65.6 million euros more.
The second series describes the life of Putin and Kabaeva, who, as journalists found out, live together. Assistants and cousins of the gymnast constantly visit Putin's residence in Valdai, and one of the sisters even has housing nearby.
For Kabaeva and the children, a separate wooden tower was built on the territory of the residence in Valdai, the same separate house for her is next to his palace. In 2021, a boat pier was built near Kabaeva’s tower, where you can cross the canal by boat and find yourself in a 28-hectare park. The surroundings of the residence are protected areas, including the territory of the Valdai National Park, which is protected by law. However, in 2018, a secret railway was built for Putin, along which he arrives at the residence, probably on his armored train , which the Project has already written about.
In total, Kabaeva and her relatives use real estate worth at least $120 million. In addition to extensions to Putin's palaces, Kabaeva has the largest penthouse in Russia. It is located in the Royal Park residential complex in Sochi, the apartment was also bought with funds from Putin's common fund in Cyprus, which once again proves Kabaeva's connection with him. The penthouse area is 2600 square meters, it has a swimming pool, a cinema, a patio and a private helipad, and the design was developed by Valentin Yudashkin.
In 2021, CIAN recognized housing as "the largest apartment in Russia." In 2011, Oleg Rudnov took over the apartment, later the asset was transferred to his son Sergey. In the 2000s, it was Rudnov who transferred the property near Palace Square in St. Petersburg to the head of state's mistress Svetlana Krinovogikh. The source of the publication claims that the apartment was bought specifically for Kabaeva, which confirms the fact that two apartments adjacent to the penthouse on the upper floors of the residential complex were issued to Kabaeva's grandmother, Anna Zatsepilina. They were bought for 20.7 million rubles, while now such apartments cost 65 million rubles. When a Project journalist traveled to Sochi and met with two realtors selling apartments, they independently stated that the penthouse was “owned by Kabaeva,” which they had heard about.