Cyprus police investigate Russian billionaire Roman Abramovich for possible tax evasion after reports implicate accounting giant Deloitte
Police in Cyprus have launched an investigation into reports that Russian billionaire Roman Abramovich may have evaded taxes with help from the accounting firm Deloitte. A Cypriot Justice Ministry official told a parliamentary committee meeting on combating money laundering that the investigation was underway, the BBC reported.
Almost a month after Russian authorities seized control of it, German food retailer Metro AG disclosed on October 23 that its Russian branch had donated 1 billion rubles to Russian military efforts without the multinational corporation's consent. President Vladimir Putin signed a decree on September 28 granting the Russian subsidiary of Metro AG to the Kremlin's management.
The company stated that the donation to the "All-Russia People's Front" organization was neither coordinated with Metro AG nor endorsed by the corporation. Since September 28, Metro Russia has been under temporary administrative control, and Metro AG no longer retains operational oversight or influence over Metro Russia's actions.
The Russian-controlled subsidiary allocated the funds to the "For Victory!" initiative, which aims to procure equipment for soldiers in the conflict zone. Metro AG, a global leader in the wholesale food industry, entered the Russian market in 2001 and operated 91 wholesale stores, employing approximately 9,000 staff members. Since September 17, the Kremlin has seized the assets of foreign companies such as Nestle, Auchan, Bati Logistics, FM Logistics, and Le Monlid LLC in Russia.
Other Western businesses placed under Kremlin management have also contributed to the "People's Front" fund, including Poland's Can-Pack, the Netherlands' Akzo Nobel, and Denmark's Rockwool.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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