Roman Abramovich, the former owner of Chelsea Football Club, is facing allegations of tax evasion that could amount to up to £1 billion. Investigations suggest that a tax avoidance scheme involving hedge fund investments may have been mismanaged from the UK, potentially leading to significant unpaid taxes.
Leaked documents indicate that investments worth $6 billion (£4.7 billion) were channeled through British Virgin Islands (BVI) companies. However, evidence suggests these investments were actually managed from the UK, implying they should have been taxed there.
Some of these funds are believed to have been linked to Chelsea FC during Abramovich's ownership. Abramovich's legal representatives maintain that he sought independent expert tax and legal advice and acted accordingly. They deny any personal responsibility or knowledge of unpaid taxes.
The UK tax authorities, HM Revenue and Customs (HMRC), are reportedly investigating the matter. Labour MP Joe Powell has called for an urgent investigation, suggesting that recovering the funds could benefit public services.
This development adds to the scrutiny surrounding Abramovich's financial dealings, including previous allegations of tax evasion related to his superyacht opera
tions.
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