In brief
Cyprus police have opened a formal investigation into Russian billionaire Roman Abramovich’s financial affairs, following a BBC Panorama exposé that accuses Deloitte of falsifying documents to hide wealth and evade taxes. The probe examines records spanning 1995‑2022 that trace a network of offshore companies and assets valued at $672 million, including yachts, mansions and jets. Abramovich’s lawyers deny any involvement, while Deloitte claims compliance with the law. The investigation, led by the Financial Intelligence Unit, may last several months and will assess potential fraud or document manipulation. Indicted company directors face pending trials over unpaid VAT.
Cyprus police have launched a formal investigation into the financial affairs of the Russian billionaire Roman Abramovich, after a BBC Panorama exposé alleged that the accounting giant Deloitte helped falsify documents to conceal his wealth and dodge taxes.
The probe follows earlier findings from a joint BBC–TBIJ report that claimed Deloitte Cyprus signed off on accounts in 2006, allowing assets worth around $672 million—superyachts, mansions and private jets—to disappear from Abramovich’s company ledgers.
A Ministry of Justice spokesperson told parliament that the Financial Intelligence Unit would examine whether any criminal conduct took place, and that the investigation could last several months.
Abramovich’s lawyers deny any role in the alleged document falsification and insist that the billionaire acted in accordance with legal advice. Deloitte Cyprus said its work was “in compliance with applicable laws”, though it could not comment because the records are more than two decades old.
The leaked files, which span 1995‑2022, trace a network of offshore companies that allegedly facilitated tax avoidance, and have triggered further indictments of former company directors over unpaid VAT.
Cypriot police confirmed that the Financial Crime Unit is actively gathering evidence, and that any individuals or firms potentially involved, including Deloitte, will be scrutinised for fraud or document manipulation.
