According to the paper, the US$2 billion had been "secretly shuffled through banks and shadow companies linked to Putin's associates", such as construction billionaires Arkady and Boris Rotenberg, and Bank Rossiya, previously identified by the U.S. State Department as being treated by Putin as his personal bank account, had been central in facilitating this. It concludes that "Putin has shown he is willing to take aggressive steps to maintain secrecy and protect communal assets." A significant proportion of the money trail leads to Putin's best friend Sergei Roldugin. Although a musician, and in his own words, not a businessman, it appears he has accumulated assets valued at $100m, and possibly more. It has been suggested he was picked for the role because of his low profile. There have been speculations that Putin, in fact, owns the funds, and Roldugin just acted as a proxy.