Magazine reveals Latvian holdings of Russian billionnaire

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An investigation by the Ir news weekly reveals that Pavel Melnikov - whose properties in Finland's Aland islands were recently raided by the authorities, revealing bizarre structures and equipment - also has an extensive portfolio of real estate holdings in Latvia.

The investigation, titled Russia's hand? uncovers millions of euros' worth of real estate ranging from high-scale Jūrmala apartments to semi-abandoned land in the east of the country, the purpose of which is unclear.

Melnikov is the owner of the Baltijas Perle company, which according to official information is listed as a real estate and campsite company at an address on the Baltic coast.

The full story is available in English at the website of Ir magazine.

Finnish public broadcaster YLE also has extensive background about Melnikov and the complex case in which he is involved in Finland, and suggests he also has companies in Russia and Poland.

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