I'm not sure how any of this comes off as bad for Putin. What's the harm in letting the world know that his friends get rich? Combined with what we already know about the effects on life expectancy of being in the opposition, this sends a pretty strong message. "Gold for my friends, lead for my enemies." I see the whole thing as a declaration from Putin to Russia, especially given his protestations. Authoritarian regimes are all about internal social control. Why do we think this has to be about the West?