Deloitte Cyprus linked to Abramovich offshore network in new investigations
Investigations have uncovered that Deloitte's Cyprus office, together with its former corporate services arm MeritServus, prepared and signed off financial statements for companies connected to Roman Abramovich. The leaked documents show that these firms were involved in moving assets to offshore entities, including a British Virgin Islands parent, as part of a broader network of offshore structures. An International Consortium of Investigative Journalists (ICIJ) leak identified more than 650 trusts and companies in Cyprus linked to Russian oligarchs, among them Abramovich. The revelations have prompted scrutiny of the role of accounting firms in facilitating offshore arrangements, while Abramovich's legal representatives maintain that he was not aware of any wrongdoing.
How this was covered
- Right-leaning outlets covered this 4h later
- Centrist coverage is the most divided on this story
Why it matters
It highlights how professional service firms can be used to create offshore structures that may evade taxes and sanctions, impacting public confidence in financial oversight.
How this story developed
- Oct 12 Deloitte implicated in falsifying records to hide Abramovich's $672 million assets
- Oct 13 A fresh leak has added over 650 Cyprus‑based trusts and companies to the probe, broadening the scope of the investigation.
