Documents falsified to evade tax on Abramovich's wealth
Backdated paperwork also made the Russian oligarch’s yachts and mansions disappear from accounts, BBC finds.
Deloitte Cyprus, the world's largest accountancy firm, helped Roman Abramovich conceal his wealth and evade taxes by falsifying documents, according to BBC Panorama's investigation. Assets such as luxury properties, yachts, and private jets worth $672 million vanished from Abramovich's company accounts due to these fraudulent practices.
The firm also allegedly provided advice on a scheme to evade a substantial tax bill on Abramovich's wealth. Barrister Andrew Mitchell KC, an expert in financial services law, stated that Panorama's evidence demonstrated the scheme was straightforward tax evasion and could not be more blatant. Roman Abramovich's lawyers maintain that he denies any involvement in tax evasion or concealing his fortune and argue that Panorama provided no proof of his knowledge or authorization of the falsified documents.
Deloitte Cyprus asserts that it acts in compliance with applicable laws. The investigation, conducted jointly by BBC Panorama and the Bureau of Investigative Journalism, reveals new insights into the way Abramovich's business empire was managed, raising concerns about the integrity of his professional advisers.
Written by urgent.news from BBC Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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