Deloitte helped in falsifying documents to evade tax on Abramovich’s wealth
Backdated paperwork also made the Russian oligarch’s yachts and mansions disappear from accounts, BBC finds.
Documents were altered to circumvent tax on Roman Abramovich's fortune, according to findings by BBC Panorama. The world's largest accountancy firm, Deloitte, signed off on falsified records that concealed the value of his assets, such as superyachts, mansions, and private jets, which amounted to $672 million. Deloitte also allegedly advised on a scheme to avoid a significant tax liability on Abramovich's wealth through document falsification.
Financial services law expert Andrew Mitchell described the scheme as blatant tax evasion, and Abramovich's lawyers denied any wrongdoing, stating that Panorama had no proof of his knowledge or approval of the document alteration. Deloitte Cyprus asserted compliance with applicable laws. The revelations were part of a joint investigation by BBC Panorama and the Bureau of Investigative Journalism.
Abramovich, a Russian oligarch who owned Chelsea Football Club, faced sanctions after Russia invaded Ukraine in 2022 and sold the club. He reportedly lives in Turkey, where sanctions do not apply. His assets in Jersey are frozen, and a criminal investigation into his financial dealings has been ongoing for four years.
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