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From the Liveblog of
Wednesday, January 29, 2025
From the Liveblog of
Wednesday, January 29, 2025
Report: Russian-Israeli billionaire Roman Abramovich may owe British tax authorities up to £1 billion
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Russian oligarch and politician Roman Abramovich is in the Old City of Jerusalem for his son's bar mitzvah on December 20, 2022. (Arie Leib Abrams/Flash90)
Russian-Israeli billionaire Roman Abramovich may owe British tax authorities as much as £1 billion (NIS 4.5 billion), according to analysis of documents cited by British media.
The reports from The Guardian and the BBC, based on leaked papers and court filings, say his companies may not have paid taxes on profits from an elaborate offshore investment scheme.
Abramovich, former owner of Chelsea Football Club and an Israeli citizen since 2018, gave almost half of his fortune to over 200 hedge funds, according to the files cited by the BBC.
The oligarch’s lawyers say he “always obtained independent expert professional tax and legal advice” and “acted in accordance with that advice,” the BBC reports.
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