Putin Offers to Take Vast Sochi Hotel From Oligarch

February 9, 2015 9:16 AM

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Russian President Vladimir Putin offered to take on a vast hotel in Sochi, home to the 2014 Winter Games, from an oligarch and compensate him for the construction costs.

An Associated Press investigation last week revealed that at least two major Sochi investors, including tycoon Viktor Vekselberg, were quietly dumping their toxic assets on the state, forcing taxpayers to pick up the bill. For the oligarchs, it's a way to recoup billions of dollars as they struggle ...

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