Abramovich aides falsified documents to hide assets and dodge tax

Summarised from 2 outlets · 3 reports · Updated 12 Oct, 06:30 · Archive

Roman Abramovich's aides, including staff at accountancy firm Deloitte, falsified paperwork to hide billions in assets and evade tax.

Analysis of leaked corporate records has uncovered what appears to have been a systematic scheme involving the falsification of paperwork to hide Roman Abramovich's sprawling offshore business empire. Accountancy firm Deloitte Cyprus signed off accounts in which assets including superyachts, mansions and private jets worth $672m were removed from the oligarch's company accounts.

The documents, part of the Cyprus Confidential leak of more than 500,000 records, have been analysed by the Guardian, the BBC and the Bureau of Investigative Journalism. They reveal a strategy of backdating documents spanning from 1999 until at least 2013, during which Abramovich's aides and accountants shifted billions of pounds obtained through controversial oilfield acquisitions in Siberia between offshore jurisdictions.

Abramovich's closest aide, London-based Eugene Tenenbaum, appears to have been involved in the backdating. Barrister Andrew Mitchell KC said the evidence showed 'straightforward' tax evasion. Abramovich's lawyers said he denies evading tax or concealing his fortune, and said no evidence showed he knew about, authorised or directed any falsification. Deloitte Cyprus said it 'acts in compliance with applicable laws'.

How it is being reported

• Watch: How did Roman Abramovich's advisors help hide his wealth?Working with the Bureau of Investigative Journalism, BBC Panorama reveals how the Russian billionaire hid his wealth with the help of Deloitte.BBC World · 12 Oct, 07:35
• Deloitte helped in falsifying documents to evade tax on Abramovich’s wealthBackdated paperwork also made the Russian oligarch’s yachts and mansions disappear from accounts, BBC finds.BBC News · 12 Oct, 06:00
• Roman Abramovich aides falsified paperwork to disguise assets and dodge tax, records suggestAccountancy 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 records uncovers what appears to have been a long-running and carefully orchestrated strategy of backdating documents. Continue reading...The Guardian · 12 Oct, 06:00

In this story: Roman Abramovich · Deloitte · Eugene Tenenbaum · Cyprus · Chelsea FC · UK · EU · Siberia

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