Deloitte in Cyprus assisted in creating backdated and falsified documents to hide Roman Abramovich's wealth worth $672m (£508m) and evade tax, according to a BBC Panorama investigation. The leaked documents reveal that luxury assets including superyachts, mansions and private jets disappeared from the oligarch's company accounts after Deloitte signed them off. An email from 2005 showed that after a meeting with Deloitte, a plan was devised to falsify financial statements for two consecutive years.
Andrew Mitchell KC, an expert in financial services law, said the evidence demonstrated "straightforward" tax evasion that was "it couldn't be more blatant". A Cypriot MP said that if tax had been evaded, authorities would need to pursue recovery and hold guilty parties accountable under law. Lord Sikka, professor of accounting at the University of Sheffield, called the falsification of transaction dates a "violation of a statutory duty" and "pretty scandalous".
Abramovich's lawyers said he denies evading tax or concealing his fortune. They stated Panorama provided no evidence he knew about, authorised or directed any document falsification, adding it was legitimate to rely on professional advice. Deloitte Cyprus said it "acts in compliance with applicable laws". The investigation was a joint effort involving BBC Panorama and the Bureau of Investigative Journalism, building on the Cyprus Confidential investigation launched in 2023.