A storm far from the Ligue 1 touchlines has followed Roman Abramovich into another night of scrutiny, with the former Chelsea owner rejecting allegations that documents were manipulated to conceal wealth and avoid tax.
Key takeaways
- Roman Abramovich’s lawyers have denied that he committed tax fraud or hid his wealth.
- A leaked-document investigation alleged that $672 million (€601 million) in assets disappeared from a Cyprus company’s 2003 accounts.
- The assets cited include superyachts, private jets, a London flat and a Sussex manor.
- Lawyers said Abramovich had no role in the day-to-day running of the companies involved.
- Deloitte’s Cyprus branch said it acted in line with applicable laws.
Lawyers reject allegations of falsified records
The allegations concern records covering the period from 1995 to 2022 and claims that paperwork was falsified or backdated to keep Abramovich-linked assets beyond the reach of tax authorities.
His legal representatives at Kobre & Kim said there was no evidence that Abramovich knew of, authorised or ordered the falsification or backdating of any document. They added that he denies both tax fraud and concealing his fortune.
“Mr Abramovich denies any wrongdoing,” the lawyers said, adding that he was not involved in the everyday management of the companies at the centre of the claims.
Cyprus accounts and Deloitte response
The investigation alleged that assets valued at $672 million, equivalent to €601 million, were absent from the 2003 accounts of an Abramovich company based in Cyprus. Those accounts were approved in 2006 by Deloitte.
Among the reported assets were luxury yachts, private aircraft, a London apartment and a country estate in Sussex, southern England.
The same investigation alleged that Abramovich associates failed to disclose to Cypriot authorities wealth accumulated by two other companies. One was said to have built assets of almost $2 billion, while the other had accumulated more than $10 billion.
It was further alleged that backdated documentation was prepared with the involvement of MeritServus, a company owned by Deloitte until 2005.
Deloitte’s Cyprus operation said it had acted in accordance with the laws that applied, while declining to provide further comment.
