Big Four giant Deloitte accused of faking paperwork to hide Roman Abramovich wealth

The Cyprus branch of accounting giant Deloitte and its spin-off firm Meritservus are accused of falsifying corporate paperwork to hide former Chelsea FC owner Roman Abramovich's wealth from UK sanctions. According to a joint investigation by the Bureau of Investigative Journalism and BBC Panorama, Deloitte and Meritservus allegedly backdated over 1,000 corporate records between 1999 and 2013, including documents relating to Abramovich's superyachts, mansions, artworks, and private jets worth $672m (£508m).

The alleged backdating, combined with fake timestamps, enabled Abramovich to conceal his assets and avoid paying tens of millions of dollars in tax. Meritservus was once Deloitte Cyprus before spinning out as an independent firm in 2005. After the UK placed Meritservus under sanctions for assisting Russian oligarchs in hiding wealth, the firm closed down.

Deloitte Cyprus, now part of Deloitte Middle East, continued to work closely with Abramovich, handling the administration of his offshore empire and acting as his accountants, tax advisers, and auditors. The scheme allegedly continued until 2022 when Abramovich faced UK and EU sanctions following Russia's invasion of Ukraine. Abramovich denies any involvement in unlawful backdating, asset concealment, or tax evasion.