According to BBC Panorama, the largest accounting firm in the world assisted in fabricating paperwork to conceal Roman Abramovich’s fortune and avoid paying taxes. Superyachts, residences, and private aircraft valued at $672 million (£508 million) disappeared from Abramovich’s business accounts due to accounting approved by Deloitte in Cyprus. Additionally, it seems that Deloitte offered advice on a plan to use document fraud to avoid paying a significant tax bill on the oligarch’s wealth. Financial services lawyer Barrister Andrew Mitchell KC stated that the scheme was “straightforward” tax evasion and “it couldn’t be more blatant” based on Panorama’s evidence.
Roman Abramovich disputes that he concealed his wealth or avoided paying taxes, according to his attorneys. They claimed it was acceptable to depend on expert counsel and that Panorama offered no proof that he was aware of, approved, or directed the falsification of any document. “Acts in compliance with applicable laws” is how Deloitte Cyprus put it.The results are being made public after the Bureau of Investigative Journalism and BBC Panorama conducted a collaborative investigation.
Roman Abramovich was the most well-known Russian tycoon in the UK for almost twenty years. He was welcomed to London, where he purchased Chelsea Football Club in 2003 and provided funding for the team’s most prosperous era. However, the UK government sanctioned him as an associate of President Vladimir Putin during Russia’s full-scale invasion of Ukraine in 2022, forcing him to sell the club.
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