Ex-Chelsea Owner Abramovich Breaks Silence On Tax Fraud Allegations

Roman Abramovich Key Takeaways Russian billionaire and ex-Chelsea owner, Roman Abramovich, denied tax fraud and document falsification claims raised by a BBC investigation, speaking through his lawyers Tuesday. BBC alleged assets worth $672 million vanished from one Abramovich company’s accounts, while Panorama said associates hid two firms worth nearly $2 billion and over $10 billion from Cypriot authorities. Abramovich’s wealth remains under scrutiny since February 2022 Ukraine invasion, with about £2.5 billion ($3.3 billion) Chelsea sale proceeds still frozen as UK pushes Ukraine aid use. Russian billionaire Roman Abramovich has denied tax fraud and allegations that documents were falsified to conceal his wealth following an investigation by the British Broadcasting Corporation (BBC).

The former Chelsea Football Club owner rejected the allegations through his lawyers on Tuesday, insisting that there was no evidence he knew about or approved any falsification of documents.

The response followed a BBC investigation alleging that assets worth $672 million, including superyachts, private jets and mansions, disappeared from the accounts of one of Abramovich’s companies.

The BBC reported that the company’s accounts were signed off by Deloitte in Cyprus in 2006.

In a statement sent to AFP, the law firm representing Abramovich, Kobre & Kim, said its client denied evading tax or concealing his wealth.

“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 lawyers said.

They added that Abramovich was not involved in the day-to-day running of the companies concerned.

“Mr Abramovich denies any wrongdoing,” the statement added.

The BBC’s current affairs programme, Panorama, reported on Monday that associates of Abramovich allegedly concealed the wealth of two other companies from Cypriot authorities.

According to the report, the companies were worth nearly $2 billion and more than $10 billion, respectively.

The BBC alleged that documents were backdated in all three cases with the involvement of MeritServus, a company that is now closed and was owned by Deloitte until 2005.

Deloitte is one of the world’s four largest accounting firms, commonly known as the Big Four.

The BBC said its investigation was based on leaked documents covering the period between 1995 and 2022.

Deloitte’s Cyprus branch told journalists that it acted in compliance with applicable laws but declined to comment further on the allegations.

Naija News understands that Abramovich’s wealth has faced increased scrutiny since Russia launched its invasion of Ukraine in February 2022.

In 2023, The Guardian reported that the billionaire had attempted to shield his wealth by transferring several billion dollars to his children shortly before sanctions were imposed on him.

The United Kingdom sanctioned Abramovich over his close ties to the Kremlin and froze his assets following Russia’s invasion of Ukraine.

The sanctions also forced him to sell Chelsea, the English Premier League club he had owned since 2003.

The club was sold in May 2022 to a consortium led by American businessman Todd Boehly.

The proceeds from the sale, amounting to about £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.

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