Cyprus police open investigation into financial affairs of Roman Abramovich
Police in Cyprus have opened an investigation into the financial affairs of Roman Abramovich, following revelations by BBC Panorama that accountancy firm Deloitte helped in falsifying documents to hide his wealth and evade tax.
Cyprus police have launched an investigation into the financial affairs of billionaire Roman Abramovich, following revelations by BBC Panorama. The report claims that accountancy firm Deloitte helped to falsify documents to hide Abramovich's wealth and evade tax. The BBC and Bureau of Investigative Journalism (TBIJ) jointly reported on the matter earlier this month, raising questions about the integrity of Abramovich's professional advisers.
A Cypriot Ministry of Justice official stated that the report's findings would be considered as part of a new police investigation. Abramovich's lawyers have denied any allegations of tax evasion or concealing his fortune. Deloitte Cyprus stated that it acts "in compliance with applicable laws." The police investigation was announced at a parliamentary committee meeting in Nicosia, where the Ministry of Justice official said they would try to determine if any criminal acts had been committed.
The investigation, conducted by the Financial Intelligence Unit, is expected to last several months. Deloitte Cyprus asserts that they acted in compliance with the law and cannot comment on the matter due to the age of the documents. Lawyers for Abramovich argue that Panorama has provided no evidence that the billionaire knew about, authorized, or directed the falsification of any document.
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