Cyprus police gather evidence on Abramovich-linked asset transfers

Cypriot police have begun gathering information about Roman Abramovich-linked companies after journalists reported that backdated paperwork was used to move billions of dollars in assets offshore. Officer Andreas Anastasiades told a parliamentary committee on 21 October that the police had acted on their own initiative and would assess the material to determine whether a criminal offence may have been committed.

The BBC and the *Cyprus Mail* describe the police work as an investigation. Philenews, reporting on the same hearing, said no decision had yet been made on whether to open a formal investigative file. That account does not rule out a later decision. Anastasiades told Politis that gathering the material could take up to six months.

The police response follows a joint investigation published on 12 October by BBC Panorama, the Bureau of Investigative Journalism and partners. The Bureau says leaked records show that documents for Abramovich-linked companies were given earlier dates, enabling assets to be moved from Cypriot company accounts to companies in the British Virgin Islands. In one case it examined, more than $600m in luxury assets appeared in draft accounts for a Cypriot company but not in the final audited accounts. Those findings have prompted scrutiny; they do not establish that Abramovich committed an offence.

Abramovich’s lawyers deny that he evaded tax or concealed assets. They say no evidence has been produced that he knew of, authorised or directed the falsification of documents, and that his companies relied on professional advisers. They also told OCCRP that he had not been identified as the subject of an investigation or charged with wrongdoing. Deloitte Cyprus says it complies with applicable law and cannot comment on the older correspondence because it no longer has access to it.

The age of the transactions may complicate any action beyond the police inquiry. Cyprus’s public audit oversight body says it has sought information from Deloitte but lacks jurisdiction over events predating its creation in 2017. The tax commissioner also raised time limits on examining the tax years concerned.