Roman Abramovich's Billions in Offshore Investments

💰 Leaked Files Reveal Roman Abramovich’s Multi-Billion Offshore Investments

A major investigation has uncovered how Roman Abramovich funneled billions into offshore investments, dodging taxes while making massive profits. The revelations come from leaked files analyzed by the BBC, The Guardian, and the International Consortium of Investigative Journalists as part of the Cyprus Confidential investigation.

📂 The Offshore Empire

🔹 Abramovich used a British Virgin Islands (BVI) company, Keygrove Holdings Ltd, to invest a staggering $6 billion (£4.8bn) into Western hedge funds from the late 1990s to early 2020s.

🔹 These investments generated around $3.8 billion (£3.1bn) in profits, shielded from taxes thanks to the BVI’s lax corporate tax laws.

🔹 The scheme appears structured to minimize tax liabilities, ensuring as little tax as possible was paid on the enormous gains.

🏴‍☠️ Control from the UK?

🔸 Offshore companies must be managed outside the UK to avoid being taxed under UK laws. However, the leaked documents raise serious questions about whether Keygrove’s operations were truly offshore.

🔸 US-sanctioned billionaire Eugene Shvidler, a close Abramovich associate, was granted sweeping control over these companies while living in the UK.

🔸 Power of attorney documents from 2004 to 2008 gave Shvidler “full power to do everything and anything” related to the BVI investment firms.

⚖️ Legal & Ethical Concerns

While offshore tax structures are technically legal, the extent of control exerted from within the UK could bring serious tax implications. If UK tax authorities determine that strategic decisions were made on British soil, these companies’ profits could be taxed as if they were UK-based.

With authorities increasingly cracking down on offshore tax loopholes, will Abramovich and his associates face legal scrutiny? 🔥