Roman Abramovich aides falsified paperwork to disguise assets and dodge tax, records suggest
Accountancy firm Deloitte Cyprus among those that appear to have backdated records outlining the Russian billionaire’s assets Aides of Roman Abramovich – including staff at the global accountancy firm Deloitte – falsified paperwork mapping the oligarch’s sprawling offshore business empire, records suggest, helping his businesses dodge tax and disguise assets. New analysis of leaked corporate…
Roman Abramovich's aides, including employees from the global accounting firm Deloitte Cyprus, are accused of falsifying documents to conceal the oligarch's assets and avoid paying taxes, according to leaked corporate records. The Russian billionaire's closest aide, London-based Eugene Tenenbaum, is believed to have played a significant role in the backdating of documents and may have provided false evidence to the UK high court during a lawsuit.
Abramovich's financial affairs are currently restricted due to sanctions imposed by the UK and EU in response to Russia's actions in Ukraine. However, these documents raise questions about how Abramovich managed to keep his financial matters hidden from authorities for over a decade with the help of powerful advisers and blue-chip companies.
The Cyprus Confidential leak, consisting of over 500,000 documents, reveals the reorganization of billions of pounds obtained through the acquisition of oilfields in Siberia. From 1999 to at least 2013, a group of Abramovich's aides and accountants allegedly used backdating to create a paper trail showing that agreements and transactions had taken place years earlier.
Deloitte Cyprus denied any wrongdoing and stated that it complies with all applicable laws. Tenenbaum and Deloitte Cyprus also denied involvement in any wrongdoing. The controversial acquisition of Sibneft's oilfields by Abramovich, which took place during the post-Soviet privatization era, is believed to have formed the foundation of his wealth.
By the time he sold his shares to Gazprom in 2005, Abramovich had amassed a fortune of $16 billion, which he used to invest in various ventures, including real estate, yachts, and Chelsea FC.
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