Russian billionaire Roman Abramovich has launched a dramatic legal claim of conspiracy against the government of Jersey, escalating a secretive battle over the origins of his vast fortune.
The Criminal Investigation and Frozen Assets
The conflict stems from a criminal investigation initiated by Jersey authorities in 2022 into allegations of corruption and money laundering connected to how Abramovich originally accumulated his wealth. Jersey officials froze more than $7 billion (£5.3 billion) of assets suspected of being linked to the former Chelsea FC owner shortly after Russia's invasion of Ukraine.
The Jersey attorney general confirmed that Abramovich is considered a suspect in their ongoing criminal investigation. The probe examines the oligarch's rise to become one of the world's wealthiest individuals during the turbulent emergence of Russian capitalism in the 1990s and 2000s.
Legal Breakthrough and Alleged Conspiracy
In a significant development, Abramovich has reportedly withdrawn his opposition to a gagging order he initially requested, allowing parts of the previously secret legal proceedings to become public. According to reports, this decision came after he alleged conspiracy by Jersey authorities regarding the criminal case against him.
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." The spokesperson confirmed that Abramovich was permitted earlier this year to introduce claims of conspiracy against the Jersey government.
Court Rulings and Evidence Disclosure
The legal battle intensified when Abramovich succeeded in compelling Jersey ministers and senior officials to produce private messages, emails, and other data related to him. The Independent reported that these documents would now be made public following the lifting of privacy restrictions.
In a recent judgment, Advocate David Michael Cadin, the master of the royal court, described the Jersey government's failure to provide data requested by Abramovich's legal team more than two years ago as "extreme". He ordered the government of Jersey to pay Abramovich's legal costs, stating that their conduct was "out of the ordinary for any litigant let alone an 'office holder', and unreasonable."
The investigation came to light in September when a Swiss federal criminal court ordered the release of Swiss banking records requested by the Jersey attorney general. Jersey has been identified as one of the tax havens where Abramovich managed his fortune through a network of offshore companies and trusts that controlled companies with Swiss bank accounts.
Through his legal representatives, Abramovich has consistently denied all allegations from Jersey authorities and maintains that any suggestion of his involvement in criminal activity is completely false. The Law Officers' Department in Jersey declined to comment on the ongoing case.
