A BBC investigation alleges former Chelsea owner Roman Abramovich used financial consultants to hide assets and avoid taxes through backdated documents.

A BBC investigation has uncovered documents suggesting former Chelsea owner Roman Abramovich utilized financial consultants to conceal his wealth and evade taxes. The report alleges that financial statements were deliberately falsified and backdated to facilitate transactions worth hundreds of millions of dollars. The findings involve offshore entities and consultants in Cyprus, including individuals linked to Deloitte.

Alleged Asset Concealment

Documents indicate that the company Amiscan Investments reported $672 million in luxury assets belonging to Abramovich in 2003, including properties in the UK and France, private jets, and the superyacht Pelorus, valued at $147.5 million. Investigators claim that backdated contracts and documentation adjustments allowed these assets to be transferred to a firm registered in the British Virgin Islands, effectively removing them from the original reports.

Financial Transactions and Denials

Another entity, Cravin Investments, allegedly processed approximately $2 billion in funds that were presented as belonging to another individual to avoid Cypriot taxes. Legal experts noted that the materials show signs of fraud, though no official court ruling has been made. Abramovich denies any illegal activity, with his lawyers stating there is no evidence he was aware of or ordered the document manipulations. The Cyprus branch of Deloitte stated it acted according to the law and no longer has access to the relevant records.

Context of International Sanctions

The scrutiny of Abramovich's financial operations intensified following international sanctions imposed after the 2022 Russian invasion of Ukraine. The British government sanctioned the oligarch, and authorities in Jersey froze £5.4 billion in assets linked to him.