Cyprus Police Open Probe Into Abramovich Financial Affairs
Cypriot authorities launched an investigation into Roman Abramovich's finances after reports alleged aides falsified business paperwork.
Cyprus police have opened a formal investigation into the financial and tax affairs of Roman Abramovich, the sanctioned Russian billionaire and former owner of Chelsea FC, authorities confirmed during a parliamentary committee hearing on the island.
A senior Cypriot police official told lawmakers the inquiry focuses on events that took place between 2003 and 2006. Investigators expect the case to span several months before any conclusions can be drawn.
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The probe was triggered by reporting from the Guardian and a consortium of media partners, which alleged that associates of Abramovich appeared to have falsified documents charting the structure of his business holdings. The findings drew immediate scrutiny from Cypriot authorities, given the island's historical role as a financial gateway for Russian capital into Europe.
Abramovich, who was sanctioned by the United Kingdom and the European Union following Russia's full-scale invasion of Ukraine in 2022, has faced mounting legal and regulatory pressure across multiple jurisdictions. Cyprus, as an EU member state, has been under particular international scrutiny over the financial dealings of Russian oligarchs who used the country's corporate and banking infrastructure.
The investigation marks one of the more concrete regulatory responses to the Guardian-led reporting. No charges have been filed, and the scope of the inquiry may broaden as authorities review records spanning the early-to-mid 2000s. Continue reading at Business | The Guardian
