Deloitte Cyprus implicated in Abramovich’s asset-hiding scandal

Accounting giant Deloitte helped falsify corporate documents to conceal vast fortunes belonging to Roman Abramovich, Russian billionaire, a joint investigation by BBC Panorama and the Bureau of Investigative Journalism has revealed. The findings expose how offshore structures and backdated paperwork were deployed to shield luxury assets from impending transparency laws and tax authorities. Leaked files show that Deloitte Cyprus reviewed and approved backdated documents designed to strip hundreds of millions of dollars in assets from official corporate balance sheets. When new transparency regulations threatened to expose the holdings of a Cypriot firm, Amiscan Investments, advisers orchestrated a transfer of luxury yachts, private jets, helicopters, and international properties to a parent company in the British Virgin Islands. By backdating the transactions by three years, accountants made the assets vanish from public accounts upon final sign-off. Similar accounting manoeuvres were used for other entities holding billions, effectively erasing potential tax liabilities. Legal representatives for Roman Abramovich strongly denied any wrongdoing or tax evasion, maintaining that the billionaire was not involved in day-to-day management and had no knowledge of document falsification. Deloitte Cyprus stated that it operates in compliance with applicable laws and could not comment on historical documents dating back over twenty years. Related News £2.5bn Chelsea sale money still frozen in UK bank three years on UK freezes £2.5bn in Chelsea sale funds for Ukraine war victims Abramovich spends £2bn on Chelsea transfers since 2003 kenneth Athekame Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives. Share

The findings expose how offshore structures and backdated paperwork were deployed to shield luxury assets from impending transparency laws and tax authorities. Leaked files show that Deloitte Cyprus reviewed and approved backdated documents designed to strip hundreds of millions of dollars in assets from official corporate balance sheets. When new transparency regulations threatened to expose the holdings of a Cypriot firm, Amiscan Investments, advisers orchestrated a transfer of luxury yachts, private jets, helicopters, and international properties to a parent company in the British Virgin Islands. By backdating the transactions by three years, accountants made the assets vanish from public accounts upon final sign-off. Similar accounting manoeuvres were used for other entities holding billions, effectively erasing potential tax liabilities. Legal representatives for Roman Abramovich strongly denied any wrongdoing or tax evasion, maintaining that the billionaire was not involved in day-to-day management and had no knowledge of document falsification. Deloitte Cyprus stated that it operates in compliance with applicable laws and could not comment on historical documents dating back over twenty years. Related News £2.5bn Chelsea sale money still frozen in UK bank three years on UK freezes £2.5bn in Chelsea sale funds for Ukraine war victims Abramovich spends £2bn on Chelsea transfers since 2003 kenneth Athekame Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives. Share

Leaked files show that Deloitte Cyprus reviewed and approved backdated documents designed to strip hundreds of millions of dollars in assets from official corporate balance sheets. When new transparency regulations threatened to expose the holdings of a Cypriot firm, Amiscan Investments, advisers orchestrated a transfer of luxury yachts, private jets, helicopters, and international properties to a parent company in the British Virgin Islands. By backdating the transactions by three years, accountants made the assets vanish from public accounts upon final sign-off. Similar accounting manoeuvres were used for other entities holding billions, effectively erasing potential tax liabilities. Legal representatives for Roman Abramovich strongly denied any wrongdoing or tax evasion, maintaining that the billionaire was not involved in day-to-day management and had no knowledge of document falsification. Deloitte Cyprus stated that it operates in compliance with applicable laws and could not comment on historical documents dating back over twenty years. Related News £2.5bn Chelsea sale money still frozen in UK bank three years on UK freezes £2.5bn in Chelsea sale funds for Ukraine war victims Abramovich spends £2bn on Chelsea transfers since 2003 kenneth Athekame Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives. Share

When new transparency regulations threatened to expose the holdings of a Cypriot firm, Amiscan Investments, advisers orchestrated a transfer of luxury yachts, private jets, helicopters, and international properties to a parent company in the British Virgin Islands. By backdating the transactions by three years, accountants made the assets vanish from public accounts upon final sign-off. Similar accounting manoeuvres were used for other entities holding billions, effectively erasing potential tax liabilities. Legal representatives for Roman Abramovich strongly denied any wrongdoing or tax evasion, maintaining that the billionaire was not involved in day-to-day management and had no knowledge of document falsification. Deloitte Cyprus stated that it operates in compliance with applicable laws and could not comment on historical documents dating back over twenty years. Related News £2.5bn Chelsea sale money still frozen in UK bank three years on UK freezes £2.5bn in Chelsea sale funds for Ukraine war victims Abramovich spends £2bn on Chelsea transfers since 2003 kenneth Athekame Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives. Share

By backdating the transactions by three years, accountants made the assets vanish from public accounts upon final sign-off. Similar accounting manoeuvres were used for other entities holding billions, effectively erasing potential tax liabilities. Legal representatives for Roman Abramovich strongly denied any wrongdoing or tax evasion, maintaining that the billionaire was not involved in day-to-day management and had no knowledge of document falsification. Deloitte Cyprus stated that it operates in compliance with applicable laws and could not comment on historical documents dating back over twenty years. Related News £2.5bn Chelsea sale money still frozen in UK bank three years on UK freezes £2.5bn in Chelsea sale funds for Ukraine war victims Abramovich spends £2bn on Chelsea transfers since 2003 kenneth Athekame Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives. Share

Legal representatives for Roman Abramovich strongly denied any wrongdoing or tax evasion, maintaining that the billionaire was not involved in day-to-day management and had no knowledge of document falsification. Deloitte Cyprus stated that it operates in compliance with applicable laws and could not comment on historical documents dating back over twenty years. Related News £2.5bn Chelsea sale money still frozen in UK bank three years on UK freezes £2.5bn in Chelsea sale funds for Ukraine war victims Abramovich spends £2bn on Chelsea transfers since 2003 kenneth Athekame Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives. Share

Deloitte Cyprus stated that it operates in compliance with applicable laws and could not comment on historical documents dating back over twenty years. Related News £2.5bn Chelsea sale money still frozen in UK bank three years on UK freezes £2.5bn in Chelsea sale funds for Ukraine war victims Abramovich spends £2bn on Chelsea transfers since 2003 kenneth Athekame Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives. Share

Related News £2.5bn Chelsea sale money still frozen in UK bank three years on UK freezes £2.5bn in Chelsea sale funds for Ukraine war victims Abramovich spends £2bn on Chelsea transfers since 2003 kenneth Athekame Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives. Share

Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives.