Stories

Mon, 12 Oct 2026

Mon, 12 Oct 2026 Documents falsified to evade tax on Abramovich's wealth, BBC finds

Backdated paperwork also made the Russian oligarch’s yachts and mansions disappear from accounts, investigation finds.
1. Tax Evasion: It is alleged that Abramovich's companies evaded millions in taxes through a complex web of financial transactions and falsified documents. 2. Deloitte Involvement: The article suggests that Deloitte, a global accounting firm, was involved in backdating financial records to facilitate the tax evasion scheme. However, Deloitte Cyprus has denied any wrongdoing, citing the age of the documents as a reason for not commenting further. 3. MeritServus Involvement: MeritServus, a company that provided financial services to Abramovich's businesses, is alleged to have falsified records and backdated documents to conceal the true ownership of his assets. 4. Electus Investments: It is reported that MeritServus backdated documents to make it appear as though Electus Investments in the British Virgin Islands (BVI) owned Abramovich's $10 billion fortune, rather than Electus Investments in Cyprus. 5. Abramovich's Denial: Abramovich's lawyers have denied any wrongdoing by the oligarch, stating that he was not involved in the day-to-day operation of his companies and relied on professional advice when making decisions. Expert Reactions 1. Andrew Mitchell KC: A former UK lawyer who has worked on high-profile tax evasion cases, Mitchell stated that the evidence suggests a "straightforward" case of tax evasion and that HMRC would likely consider prosecution if such a scheme were to occur in England. 2. Vladimir Milov: A Russian energy expert and critic of the Russian government, Milov suggested that Western financial and legal services providers are often complicit in enabling corruption among wealthy individuals. Impact 1. Cypriot Law Enforcement: The article notes that Cypriot MP Christos Christofides has stated that if tax evasion is proven, those responsible will face prosecution under Cypriot law. 2. Abramovich's Reputation: The allegations have raised questions about Abramovich's reputation and his ability to maintain a clean image in the face of such serious accusations. This article highlights the complex web of financial transactions and documents used by wealthy individuals like Roman Abramovich to evade taxes and conceal their assets. It also raises concerns about the role of professional services providers, including accounting firms like Deloitte, in facilitating these schemes.