“I drew a line from the $230 million fraud to Putin’s proxy, the cellist Sergei Roldugin. I explained that this wasn’t a one-off, but one of thousands of crimes Putin had benefitted from, allowing him to accumulate an estimated $200 billion fortune. I pointed out that nearly all of this wealth was held at financial institutions in the West and at risk of being frozen under the Magnitsky Act. For these reasons, the law was an existential threat to him and his senior officials.”
