An investigation by BBC Panorama and the Bureau of Investigative Journalism has uncovered evidence that the accounting firm Deloitte assisted in falsifying financial documents related to Russian oligarch Roman Abramovich’s wealth. The probe, conducted jointly with multiple media organizations as part of a larger inquiry into leaked offshore finance records, reveals that assets valued at $672 million—including superyachts, mansions, and private jets—were systematically removed from company accounts through backdated paperwork and document manipulation.
The investigation centers on transactions involving Abramovich’s Cypriot companies, which were administered through a corporate services firm called MeritServus. According to leaked documents spanning from 1995 to 2022, Deloitte Cyprus reviewed and approved backdated documents that made it appear as though asset transfers had occurred years earlier than they actually did. In one instance, luxury properties located in West Sussex, London, and France, along with aircraft and boats, vanished from official accounts after Deloitte signed off on the modified records in 2006. Financial experts cited in the investigation characterized the practices as violations of accounting standards and statutory duties.
The leaked materials also contain evidence of a separate tax evasion scheme involving another Abramovich company, Kravin Investments, which held approximately $2 billion in 2003. Internal communications between corporate advisers and Abramovich’s associates reference a plan devised following meetings with Deloitte to modify financial statements and accounting records to obscure income that should have been subject to Cypriot taxation. Abramovich’s legal representatives deny the allegations, stating he did not authorize or direct any document falsification and that relying on professional advice was legitimate. Deloitte Cyprus stated it operates in compliance with applicable laws. The investigation builds on earlier reporting about Abramovich’s acquisition of wealth through oil industry dealings in Russia during the 1990s.
Article Attribution | Read More at Article Source
Article summary produced by Claude AI