The Cyprus branch of Deloitte and its spin-off are alleged to have falsified corporate paperwork to protect former Chelsea FC owner Roman Abramovich's assets. This reportedly occurred before the UK government sanctioned him.
According to a joint investigation by the Bureau of Investigative Journalism (TBIJ) and BBC Panorama, accounts signed off by Deloitte Cyprus and its spin-off Meritservus in Cyprus allegedly caused assets worth $672m (£508m) to vanish from Abramovich’s company accounts. These assets reportedly included superyachts, mansions, artworks, and private jets.
The allegations claim that senior staff routinely "backdated" more than 1,000 corporate records, contracts, payment orders, and correspondence across over 100 companies between 1999 and 2013. Some documents were reportedly given fake timestamps dating back as far as five years.
MeritServus, which was once Deloitte Cyprus before spinning out in 2005, closed after the UK placed it under sanctions for allegedly helping Russian oligarchs hide wealth. Deloitte Cyprus stated that it acts in compliance with applicable laws and is unable to comment on the completeness or accuracy of correspondence from over 20 years ago.
Roman Abramovich, through his lawyers, denied any knowledge of or involvement in "unlawful backdating," concealing assets, or evading tax. He stated he relied on professional advisers, including Deloitte.