Cyprus police have opened an investigation into Roman Abramovich's financial affairs after reporting by BBC Panorama and the Bureau of Investigative Journalism raised questions about his company accounts and Deloitte's work in Cyprus. A Cypriot Justice Ministry official told MPs that police would examine the journalists' findings and try to determine whether any criminal acts had been committed.
The BBC and the Bureau reported that assets including superyachts, mansions and private jets worth $672 million (£508 million) vanished from Abramovich's company accounts signed off by Deloitte in Cyprus in 2006. The BBC also reports that Deloitte appears to have advised on a tax-evasion scheme involving falsified documents. The inquiry is examining those allegations, not announcing a finding of wrongdoing.
Police representative Andreas Anastasiades told MPs that the Financial Crime Unit had begun gathering evidence and expected the investigation to last several months. Asked whether Deloitte's work would be examined, he said: “We will look at any company or person who may be involved.” He added that police would assess whether there had been fraud or manipulated documents.
Abramovich's lawyers deny that he evaded tax or concealed his fortune. They say Panorama has provided no evidence that he knew about, authorised or directed the falsification of any document. Deloitte Cyprus says it acts “in compliance with applicable laws” and cannot comment on documents it says are more than 20 years old and no longer accessible.
