REVEALED: Jailed billionaire Russian oligarch seeking £12billion over claims ... trends now

A jailed Russian oligarch who filed a lawsuit in the High Court seeking £12 billion over claims his assets were seized in a Kremlin-backed conspiracy had a close financial relationship with President Putin and his inner circle, MailOnline can reveal.

Ziyavudin Magomedov, currently in prison in Moscow, claims his arrest on embezzlement charges was part of a state-supported plot to take over his shares in Russian port operators, oil companies and a nuclear energy agency.

But Russian anti-corruption campaigners claim the lawsuit is undermined by the Oligarch's personal and financial relationship with Putin and his inner circle. Magomedov contributed £50 million to the purchase and maintenance of a £500 million superyacht for the use of Putin and his lover, according to a report by the opposition news outlet 'Dossier Centre'.

The luxurious 460-foot-long yacht Scheherazade was a Christmas gift in 2014 by a group of sycophantic Russian Oligarchs.

'Just over 583million Euro was transferred from five offshore companies for the construction of the yacht,' claimed the Dossier Centre. One of those companies was called High Definition which has been linked to Magomedov.

The luxurious 460ft-long Scheherazade yacht is suspected to be part of Putin's secret £80 billion fortune which is managed by Oligarchs and political cronies.

His girlfriend Alina Kabaeva, 39, has been on board the luxury vessel which boasts six decks, gold plated toilet roll holders, marble bathroom fittings and a judo gym with framed pictures of Putin's black belts. The crew were mainly Russian secret service officers.

The yacht was sailed close to Black Sea residences linked to Putin, notably his official retreat in Sochi and his super-palace which cost a reported £1 billion, according to the Dossier Centre. But last May the Scheherazade was seized by the Italian police near Pisa after documents revealed how its ownership was 'connected to senior elements of the Russian government'.

When asked about his contribution to Putin's yacht, a spokesperson for Magomedov said: 'This allegation is strongly refuted. We regard it as a lie designed by his many political and commercial adversaries to damage Mr Magomedov's reputation in the West'.

But investigators working for the opposition say Magomedov has also funded the family of Putin's influential spokesperson, Dimitry Peskov.

The Alexey Navalny Foundation claimed that Peskov's son Nikolai has been the creative director of Fight Nights, a mixed martial arts promotions company owned by the Russian Oligarch. A recent martial arts event was attended by Putin's chief press secretary (see photograph if required). 'I like talking to Mr Peskov,' said Magomedov who was identified by the US Treasury in 2018 as one of 96 Oligarchs close to Putin.