Former Chelsea football club owner Roman Abramovich has denied allegations of tax fraud and concealing his wealth following a BBC investigation that claimed documents were falsified to hide assets and help one of his companies avoid paying taxes.
Abramovich’s legal representatives, the law firm Kobre & Kim, rejected the allegations on Tuesday, insisting that there was no evidence linking the Russian billionaire to the alleged falsification or backdating of documents.
“No evidence has been provided that Mr Abramovich knew of, authorised or directed the falsification or backdating of any document, and he denies that he evaded tax or concealed his fortune,” the law firm said.
“Mr Abramovich denies any wrongdoing. He was not involved in the day-to-day operation of the companies concerned,” his lawyers added in a statement sent to AFP.
The allegations followed a BBC investigation published on Monday, which claimed that luxury assets, including superyachts, private jets and mansions worth $672 million, had disappeared from the accounts of companies linked to Abramovich. The accounts were reportedly signed off by Deloitte in Cyprus in 2006.
The BBC’s current affairs programme Panorama also reported that associates of the businessman concealed the wealth of two other companies from Cypriot authorities. The companies were reportedly worth nearly $2 billion and more than $10 billion, respectively.
According to the investigation, documents connected to all three cases were backdated with the involvement of MeritServus, a company that has since closed. MeritServus was owned by Deloitte until 2005.
Deloitte is one of the world’s four largest accounting firms, commonly referred to as the “Big Four”.
The BBC said its investigation was based on leaked documents covering the period from 1995 to 2022.
Responding to the allegations, Deloitte’s Cyprus branch told AFP that it “acts in compliance with applicable laws” but declined to comment further.
The latest claims come amid previous reports concerning Abramovich’s financial dealings before he was sanctioned by Western governments following Russia’s invasion of Ukraine.
In 2023, The Guardian reported that Abramovich had attempted to shield his wealth by transferring several billion dollars to his children shortly before sanctions were imposed on him.
The British government sanctioned the Russian oligarch over his close ties to the Kremlin and froze his assets following the invasion of Ukraine.
The sanctions also forced Abramovich to sell Chelsea FC, the English football club he had owned since 2003.
The club was sold in May 2022 to a new ownership consortium led by American businessman Todd Boehly.
Proceeds from the sale, amounting to approximately £2.5 billion ($3.3 billion), remain frozen in a British bank account.
The UK government wants the money to be used for humanitarian purposes in Ukraine. However, Abramovich has maintained that the funds should benefit all victims of the conflict, including those in Russia.
Abramovich’s lawyers have continued to deny wrongdoing in response to the latest allegations, while the claims outlined in the BBC investigation remain disputed.
Source: AFP
