Cypriot police open investigation into Roman Abramovich's assets
Cypriot authorities have launched an investigation into Roman Abramovich's financial affairs following reports that Deloitte helped falsify documents to hide assets. The probe focuses on potential money laundering and tax evasion involving offshore companies.
Why it matters
This investigation underscores the growing international scrutiny of financial intermediaries and the use of offshore structures by high-net-worth individuals to evade sanctions or taxes.
Image source, Getty Images Image caption, Russian billionaire Roman Abramovich - his lawyers have said he denies concealing his fortune
Police in Cyprus have opened an investigation into the financial affairs of Roman Abramovich, following revelations by BBC Panorama that accountancy firm Deloitte helped in falsifying documents to hide his wealth and evade tax.
Serious questions about the integrity of some of Abramovich's professional advisers were raised earlier this month in a joint report from the BBC and the Bureau of Investigative Journalism (TBIJ).
A Cypriot Ministry of Justice official told MPs this week that the report's findings would be looked at as part of a new investigation by the police's Financial Intelligence Unit.
Lawyers for Abramovich have said that he denies evading tax or concealing his fortune. Deloitte Cyprus said it acts "in compliance with applicable laws".
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