Documents falsified to evade tax on Abramovich's wealth
Summary
An investigation by BBC Panorama and partners found that Deloitte’s Cyprus office helped Roman Abramovich hide assets and evade taxes by falsifying documents. These documents concealed luxury assets worth hundreds of millions of dollars, and the scheme involved offshore companies based in Cyprus. Abramovich denies knowing about any wrongdoing, while Deloitte says it follows the law.Key Facts
- Deloitte, a top global accounting firm, signed off on false documents for Abramovich’s Cyprus-based companies.
- The falsified records hid assets like superyachts, mansions, and private jets valued at around $672 million (£508 million).
- The scheme aimed to avoid paying a large tax bill on Abramovich’s wealth.
- Abramovich’s lawyers deny he evaded taxes or authorized any false documents.
- Deloitte Cyprus says it complies with relevant laws.
- The documents come from a large leak revealing how Abramovich’s offshore wealth was managed from 1995 to 2022.
- Abramovich was sanctioned by the UK in 2022 due to ties with President Putin and forced to sell Chelsea Football Club.
- Around £5.4 billion of Abramovich’s assets remain frozen in Jersey amid a four-year criminal investigation.
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