Global accounting firm Deloitte has been accused of helping Russian billionaire Roman Abramovich conceal assets worth at least $10 billion and evade taxes through the alleged falsification of corporate documents, according to an investigation published on October 12, 2026.
The investigation by The Bureau of Investigative Journalism, in collaboration with BBC Panorama, The Guardian and the Organized Crime and Corruption Reporting Project (OCCRP), examined leaked corporate records detailing the management of Abramovich’s offshore business empire.
According to the findings, Deloitte’s Cyprus office and MeritServus, a corporate services firm that was previously part of Deloitte, allegedly created or approved more than 1,000 backdated corporate documents between 1999 and 2013.
The documents reportedly involved more than 100 companies linked to Abramovich and included contracts, payment instructions and correspondence designed to make financial transactions appear to have occurred earlier than they did.
The investigation found that the alleged backdating enabled companies linked to the billionaire to shift assets between offshore entities, including companies registered in Cyprus and the British Virgin Islands, potentially reducing tax liabilities and limiting disclosure of their holdings.
One case involved approximately $2 billion held by a Cyprus-based company following the sale of shares in Russian oil company Sibneft in 2003. According to the investigation, advisers allegedly prepared documents years later to make it appear that the funds had been transferred to another company shortly after they were received.
The arrangement reportedly sought to change how the funds were treated for tax purposes, including the interest they generated while held in bank accounts.
The investigation also identified alleged efforts to remove luxury assets, including yachts, aircraft and properties, from the financial statements of companies linked to Abramovich.
In another case, investigators reported that backdated consultancy agreements were used to facilitate the transfer of approximately $98 million to Abramovich through an intermediary company.
The findings raise questions about the role of professional services firms in overseeing offshore financial structures and the responsibility of auditors to ensure that company accounts accurately reflect their financial positions.
However, the allegations have been disputed.
Lawyers representing Abramovich said he denied knowing about or participating in unlawful backdating, concealing assets or evading taxes. They maintained that companies linked to him had relied on professional advisers, including Deloitte, to manage their affairs in accordance with applicable laws.
Deloitte Cyprus said it operates in compliance with applicable laws but declined to comment further, citing its inability to access correspondence dating back approximately two decades. MeritServus and individuals named in the investigation have also faced questions over their alleged roles in the arrangements.
The investigation is based on leaked emails, financial records and corporate documents reviewed by the participating media organisations.
The findings have renewed scrutiny of offshore financial arrangements and the role of major accounting and advisory firms in managing the wealth of some of the world’s richest individuals.
The allegations have not, by themselves, established criminal liability against Abramovich or the firms involved.
