Journalists expose the riches of Putin's distant relative

A group of journalists behind the Panama Papers offshore accounts expose has published an investigation detailing how a distant relative of Russian President Vladimir Putin has made a fortune.

The Organized Crime and Corruption Reporting Project on Wednesday published a piece claiming that Mikhail Shelomov, the son of Putin's cousin, has over the years amassed nearly $600 million in assets.

Investigative journalists have written about Putin's childhood friends and distant relatives amassing fortunes before. Putin has denied helping his entourage get rich.

Wednesday's piece detailed how Shelomov's company amassed stakes in lucrative businesses run by Putin's inner circle.

The OCCRP was one of the media outlets that brought to life documents of a Panamanian law firm showing how hundreds of rich and powerful people registered companies in tax havens.