Leaked documents and public filings show Ross holds a stake in a shipping company, Navigator, through a chain of offshore investments. By January 2012, having built up his holding in the Russian company, Shamalov, then 29, was made its deputy chairman. His private equity firm, WL Ross, earned him a reputation as a ruthless corporate raider. One leaked file said WL Ross was among Appleby’s top 20 clients by total billings. The sale brought in about $420m for Ross’s firm, which had not disclosed how much it paid a decade earlier.

Source: The Guardian November 05, 2017 18:01 UTC