Cyprus police investigate Abramovich's financial and tax affairs

Summarised from 2 outlets · Updated 23 Oct, 11:44 · Archive

Cyprus police have opened an investigation into Roman Abramovich's financial and tax affairs following reports of falsified documents.

Cyprus police have opened an investigation into the financial and tax affairs of Roman Abramovich following joint reporting by the Guardian, BBC and the Bureau of Investigative Journalism that raised questions about how his wealth was managed.

The investigation will focus on events between 2003 and 2006, with police expected to spend several months gathering evidence. A senior official in Cyprus's police told MPs that the investigation would determine whether any criminal acts had been committed. The amount of time that had elapsed since the events in question would make the investigation more difficult, the official said.

The reports found that aides of Abramovich, including staff at the global accountancy firm Deloitte's Cypriot office, appeared to have falsified paperwork mapping his offshore businesses. The apparent backdating of key documents concerning billions of pounds in assets appears to have helped businesses owned by Abramovich evade tax and disguise assets, including superyachts, mansions and private jets worth $672 million.

Abramovich's lawyers say he denies evading tax or concealing his fortune and that he relied on the advice of professional experts. Deloitte Cyprus said it acts in compliance with applicable laws.

How it is being reported

• Cyprus police open investigation into financial affairs of Roman AbramovichQuestions about the integrity of some of Abramovich's professional advisers, were raised earlier this month.BBC News · 23 Oct, 11:14
• Cyprus police investigate financial and tax affairs of ex-Chelsea owner Roman AbramovichInquiry follows report by Guardian and partners that aides of Russian oligarch appeared to have falsified paperwork mapping his businesses Police in Cyprus have opened an investigation into the financial and tax affairs of the former Chelsea FC owner, Roman Abramovich, following a report by the Guardian and media partners . In a committee hearing in the Cypriot parliament, a senior official in the island’s police said they were looking into events between 2003 and 2006, with the probe likely to last several months. Continue reading...The Guardian · 22 Oct, 16:53

In this story: Roman Abramovich · Cyprus · Deloitte · Guardian · BBC · Bureau of Investigative Journalism

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