Investigation reveals Roman Abramovich's offshore schemes as hundreds of millions disappeared

Leaked files have laid bare illicit financial management practices, with Cyprus-based advisors—including individuals linked to Deloitte—playing a pivotal role. One notable case involves Amiscan Investments, which in its 2003 records registered $672 million worth of luxury assets belonging to Roman Abramovich.

The former Chelsea owner's portfolio included prime real estate across the UK and France, private jets, and the $147.5 million superyacht Pelorus. However, subsequent documentation adjustments and backdated contracts effectively wiped these assets from official records, shifting them to a shell company in the British Virgin Islands.

Investigators have also zeroed in on Kravin Investments, an entity through which roughly $2 billion flowed. Tailored paperwork presented these funds as belonging to a third party, allowing Abramovich to dodge local taxation in Cyprus. Financial crime legal experts note that the uncovered documents bear the hallmarks of fraud, though no formal court ruling has been issued.

Abramovich himself has denied any wrongdoing. His legal representatives told the BBC there is no evidence suggesting he was aware of or directed any falsification of documents. Deloitte Cyprus also issued a statement, maintaining it has always acted strictly within the law, while noting it no longer holds records from that period.

The case has come under even tighter scrutiny following international sanctions imposed in the wake of Russia's 2022 invasion of Ukraine. The UK government placed the oligarch on its sanctions list, prompting authorities in Jersey to freeze £5.4 billion worth of his assets. Inquiries into his financial dealings remain ongoing.