Disappearing yachts and forged documents. Accountants in the employ of a Russian oligarch

BBC investigation on the trail of missing millions

Financial statements approved by Deloitte in Cyprus meant that assets worth $672 million - including superyachts, mansions and private jets - simply disappeared from Abramovich's company accounts. Moreover, Deloitte is believed to have advised on a scheme to avoid a massive tax on the oligarch's wealth by falsifying documents.

According to legal experts, it is difficult to imagine a more brazen case of circumventing applicable law. In response to the BBC's findings, Abramovich's lawyers denied that the oligarch knew about the forgery of any documents, approved it or directed it. They also added that relying on professional advice is a fully justified practice for businessmen.

From London success to frozen billions

According to BBC findings, Abramovich currently lives in Turkey, which has become a safe refuge for him because it has not introduced sanctions against Russia. Meanwhile, his assets worth £5.4 billion are frozen on the English Channel island of Jersey.

It is worth recalling that for almost two decades Roman Abramovich was the most famous Russian oligarch in Great Britain, where in 2003 he bought the London football club Chelsea FC and financed the most successful period in its history. However, after Russia invaded Ukraine in 2022, the billionaire was placed under sanctions by the British government as a person associated with President Vladimir Putin and forced to sell the club - he obtained £2.5 billion this way.

Conflict over the definition of war victims

According to the original declaration and the terms of sale outlined by the government in London, the entire amount was to be transferred to a charitable foundation helping victims of the war in Ukraine. However, the funds got stuck in the account due to a legal dispute over the definition of beneficiaries.