Putin’s Alleged Secret Family Linked to Financial Flows From Black Sea Palace

Investigators have discovered that approximately 6.5 billion rubles ($84.4 million) in surplus funds from the construction of "Putin’s palace" was transferred from the company Investment Solutions to foundations controlled by Alina Kabaeva, according to The Anti-Corruption Foundation (ACF) on February 26.

The report describes Kabaeva as the unofficial mother of two of Vladimir Putin’s children. The company responsible for the transfers is owned by people who were university classmates of the Russian president. 

Financial records indicate that two significant transfers occurred in 2023. On April 4, the firm Investment Solutions sent $5.88 million to the Alina Kabaeva Charity Foundation. 

Later, on November 1, the company transferred an additional $29.41 million. The report further notes that $41.17 million from the same company was moved to Kabaeva’s "Heavenly Grace" foundation.

According to ACF, while the Alina Kabaeva Charity Foundation officially supports gymnasts, only $41,176 was used for that specific purpose. This amount represents a mere 1% of the total funds received. Meanwhile, $364,700 was spent on the reconstruction of a church in occupied Crimea.

The foundation also allocated $3.06 million toward the Alina Rhythmic Gymnastics Festival. The "Heavenly Grace" foundation, which received the larger share of the remaining funds from the "palace project," spent nearly $5.88 million on a gymnastics tournament of the same name.

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War in Ukraine

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Some of the funds were utilized to organize athletic training camps for young gymnasts in Valdai, located very close to another residence used by Putin. The investigators claim, “These camps were created with the sole purpose of entertaining the children of Putin and Kabaeva, who live almost continuously at the residence and practice artistic gymnastics, by allowing them to socialize with their peers.”

A large portion of the money from the palace project remains in bank accounts owned by Kabaeva’s foundations.

Earlier, Russia’s involvement in Ukraine was marked by a consistent pattern of ceasefire violations that undermined over 200 negotiation rounds and 20 separate truce agreements.

Despite efforts by France and Germany to broker peace after the 2014 invasion, Russian-backed forces repeatedly broke these commitments, often within minutes of them taking effect. From the shelling of humanitarian corridors to the immediate breaches of the Minsk agreements, each diplomatic effort was met with renewed attacks.

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