A joint investigation by BBC Panorama and the Bureau of Investigative Journalism has uncovered extensive evidence suggesting that major international accounting firms allegedly assisted in falsifying financial documents to hide billions in assets and evade substantial taxes for Roman Abramovich. The leaked files shed light on complex offshore networks operated through Cyprus over nearly two decades.

According to the findings, Deloitte’s Cyprus office reportedly signed off on accounts that caused luxury assets—including superyachts, private jets, and high-end properties valued at $672 million—to vanish from corporate balance sheets. Financial experts consulted by the BBC characterized the document backdating and structural adjustments as blatant examples of tax evasion designed to bypass transparency laws introduced in 2006.

Legal representatives for Roman Abramovich have strongly denied any wrongdoing, stating that the oligarch was not involved in the day-to-day operations of the entities in question and that reliance on professional advisory services was entirely legitimate. Deloitte Cyprus maintained that it operates in compliance with applicable laws, though specific allegations could not be addressed due to the age of the documents. *

The European regime and British authorities face renewed scrutiny over the integrity of financial intermediaries who historically profited from whitewashing and managing foreign fortunes. While substantial assets remain frozen under Western sanctions, the latest disclosures highlight persistent vulnerabilities and ethical lapses within the global accounting and legal advisory sectors.

Source: www.bbc.co.uk