Roman Abramovich accuses Jersey of conspiracy over money laundering investigation
Former Chelsea owner Roman Abramovich is alleging "conspiracy" against the government of Jersey after the crown dependency initiated a criminal investigation into allegations of corruption and money laundering related to the original source of the oligarch’s wealth.
The latest development threatens to expose parts of a secretive legal battle on the Channel Island regarding the tycoon’s rise to become one of the world’s wealthiest individuals, which surfaced in September after a Swiss federal criminal court ordered the release of a collection of Swiss banking records requested by the Jersey attorney general.
The Russian billionaire initially sought a gagging order on the cases but has reportedly retracted his opposition after accusing the island’s authorities of conspiracy concerning the criminal investigation against him in 2022. The lifting of the privacy order was first reported by the Independent on Sunday.
A spokesperson for Abramovich told Reuters: "No charges have been brought against Mr. Abramovich in the three and a half years since the investigation was commenced, and, to our knowledge, in fact, no progress has been made on this case.
"Mr. Abramovich was allowed earlier this year to introduce claims of conspiracy against the government of Jersey."
The crown dependency froze more than $7bn (£5.3bn) of assets suspected of being linked to him soon after Russia’s invasion of Ukraine in 2022. The Jersey attorney general also stated that Abramovich was a suspect in a criminal investigation.
Abramovich then succeeded in his legal effort to compel ministers and other senior figures in Jersey to produce private messages, emails, and other data related to him, which would now be made public, the Independent reported.
The paper also published details from a judgment reportedly issued last week by advocate David Michael Cadin, the master of the royal court, ordering the government of Jersey (GOJ) to pay Abramovich’s costs and describing its failure to provide data requested by the oligarch’s legal team more than two years ago as "extreme."
"The GOJ defendants’ conduct was out of the ordinary for any litigant let alone an ’office holder,’ and unreasonable," he is reported to have said. "No proper explanation has been offered by the GOJ defendants for their failings."
Jersey is one of the tax havens from which Abramovich managed his fortune, utilizing a network of offshore companies and trusts, which in turn controlled companies with bank accounts in Switzerland.
According to the Swiss rulings that first brought attention to the investigation, Jersey officials are exploring the origins of the oligarch’s wealth, acquired during the chaotic rise of capitalism in Russia in the 1990s and 2000s.
Abramovich, through his lawyers, has denied the Jersey allegations and stated that any suggestion of his involvement in criminal activity is false.
The Law Officers’ Department in Jersey said: "We are unable to comment."
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