The Russian offices of Brooklyn Nets owner Mikhail Prokhorov are raided Thursday.
Mikhail Prokhorov has bigger problems than the Nets.
Russian tax authorities and law enforcement officials − some wearing ski masks − raided the Moscow offices of the Nets owner’s Onexim Group Thursday, Reuters reported.
Reuters, citing unnamed sources, said the search may be linked to Prokhorov’s interest in RBC Media, which owns a newspaper that has published “Panama Papers,” stories about offshore interests of President Vladimir Putin’s associate businesses tied to Putin’s son-in-law.
An RBC spokesman, however, told Reuters that the company’s office, located in a different location, had not been searched.
The Interfax news agency, meanwhile, quoted a law enforcement source who said the investigators were looking into suspected tax evasion and moving assets off shore.
A bank analyst told Reuters he believed the raids were a “clear warning to other oligarchs to stop capital flight.”
Prokhorov, who also owns the Barclays Center in Brooklyn, is Russia’s 14th richest person with $ 7.6 billion in personal wealth, according to Forbes. Spokesmen for the Nets and the NBA did not return calls seeking comment.