A new investigation alleges that sanctioned Russian oligarch Roman Abramovich used a complex scheme involving the British Virgin Islands to avoid paying taxes on investments that helped fund his purchase of Chelsea Football Club in 2003. The investigation by the Bureau of Investigative Journalism claims Abramovich invested billions through a network of offshore companies, ultimately making billions in profits from Western hedge funds. Labour MP Joe Powell has called for an urgent investigation by HM Revenue and Customs.
The sanctioned Russian oligarch allegedly used the money as part of a botched tax dodge to help fund his purchase of the Premier League club in 2003.and Bureau of Investigative Journalism show hedge fund investments worth £4.7billion were managed in the UK, despite being routed through firms in the British Virgin Islands.The oligarch's lawyers said he "always obtained independent expert professional tax and legal advice" and "acted in accordance with that advice".
A network of firms owned by Keygrove then invested his money into Western hedge funds, which made the oligarch up to £3.1billion, it is claimed. A tax expert told the BBC evidence Shvidler had made decisions on the investments while based in Britain was "a pretty big smoking gun" as to whether the companies involved should have been paying UK tax.
TAX DODGE OFFSHORE ACCOUNTS ROMAN ABRAMOVICH CHELSEA FC INVESTMENTS
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