German Authorities Investigate Russian Billionaire Roman Abramovich for Undeclared Assets
Russian billionaire Roman Abramovich is under investigation in Germany for allegedly having undeclared assets, according to a report by Spiegel. The Frankfurt am Main Public Prosecutor’s Office is investigating Abramovich, who was once the owner of the Chelsea soccer club.
Abramovich is suspected of owing up to $1.2 billion in unpaid taxes in the UK. The European Union has imposed sanctions on him, requiring him to declare his assets. If found guilty, Abramovich could face heavy fines or even a year in prison for failing to report his assets.
Luxury cars worth millions have been frozen as part of the investigation, including two Bugatti Chirons and a Lamborghini Reventon. Several pieces of artwork were also confiscated from a villa in Bavaria that prosecutors believe belong to Abramovich.
However, Abramovich’s lawyers claim he is not the owner of the villa or the frozen luxury cars. When contacted by Spiegel, the Public Prosecutor’s Office confirmed it was investigating a 58-year-old businessman from Russia under Germany’s Foreign Trade Act, but did not confirm directly that it was Abramovich.
Abramovich was sanctioned by the EU and UK after Russia invaded Ukraine in 2022. He had appealed for the sanctions to be lifted in 2023, but his appeal was unsuccessful. As a result of the sanctions, he was forced to sell Chelsea soccer club, and U.K. lawmakers have called for the assets from the sale to be used to help Ukraine.
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