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Abramovich dodged millions in tax with superyachts-for-hire scheme
BBC ^ | Jan 28 | James Oliver, Harriet Agerholm and Will Dahlgreen

Posted on 01/28/2025 11:29:52 AM PST by RandFan

It was Christmas 2011, a year after Roman Abramovich had taken delivery of his new superyacht, Eclipse. But it seemed the oligarch would not be using it over the festive period - records show it had been chartered by a company based in the British Virgin Islands.

And yet photographs from Christmas Day that year show Mr Abramovich in the Caribbean sunshine, standing on the swim platform at the rear of the yacht, with Eclipse's large letter-E logo behind him.

Charter records such as this were part of a decade-long scheme to mislead tax authorities, now uncovered in an investigation by the BBC and the Bureau of Investigative Journalism, external.

The scheme falsely presented the Russian oligarch's fleet of yachts as a commercial leasing operation, to dodge millions of euros in VAT on their purchase and running costs.

"There has been tax evasion," Italian tax lawyer and professor Tommaso Di Tanno told the BBC. "This is criminal."

In a statement, lawyers for Mr Abramovich - who now reportedly divides his time between Istanbul, Tel Aviv and the Russian resort of Sochi - said he had "always obtained independent expert professional tax and legal advice" and "acted in accordance" with it.

The billionaire, who was sanctioned by the UK in March 2022 over his connection to Vladimir Putin's regime, bought five luxury yachts over the course of the 2000s that were involved in the tax scheme.

Among them was the 115m (377ft) Pelorus, which he reportedly lent to Chelsea footballer John Terry for his honeymoon in 2007 - and Eclipse, which at 162.5m (533ft) was once the largest private yacht in the world and worth an estimated $700m (£559m).

(Excerpt) Read more at bbc.co.uk ...


TOPICS: Crime/Corruption; Miscellaneous; News/Current Events; United Kingdom
KEYWORDS: 2010; 201112; 2022; britishvirginislands; harrietagerholm; istanbul; italy; jamesoliver; johnterry; putin; romanabramovich; russianoligarch; sochi; taxevasion; tommasoditanno; turkey; unitedkingdom; virginislands; willdahlgreen
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Click link to read more. He has a myriad of shell companies and trusts. That's how the true elite do it and avoid the tax.

What's more VAT [sales tax] fraud is considered very serious in Europe and the UK in a lot of cases it's prison time. Yet he wont be touched. Amazing.

1 posted on 01/28/2025 11:29:52 AM PST by RandFan
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To: RandFan

Among them was the 115m (377ft) Pelorus, which he reportedly lent to Chelsea footballer John Terry


I remember when he slipped and missed the Penalty Kick against Manchester United, that gave United the Champions League Title.


2 posted on 01/28/2025 11:32:10 AM PST by dfwgator (Endut! Hoch Hech!)
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To: RandFan

the average American could care less about the russian oligarchs and their yacht schemes. We are concerned with our own shit. 99.999999% of Americans could care less if Ukraine is ruled from Moscow or Kiev. Means nothing. Good luck.


3 posted on 01/28/2025 11:35:00 AM PST by Strict9
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To: dfwgator

4 posted on 01/28/2025 11:35:16 AM PST by Larry Lucido (Donate! Don't just post clickbait!)
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To: dfwgator

Good memory


5 posted on 01/28/2025 11:36:42 AM PST by RandFan
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To: RandFan

It is every person’s God-given right to pay the least amount of tax possible.


6 posted on 01/28/2025 11:42:39 AM PST by wildcard_redneck ( )
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To: wildcard_redneck

It is every person’s God-given right to pay the least amount of tax possible.


Of course no one attacks Bono and U2, for dodging Irish taxes by incorporating in The Netherlands.

And you know why John Lennon moved to NYC? He “Imagined” lower taxes!


7 posted on 01/28/2025 11:43:36 AM PST by dfwgator (Endut! Hoch Hech!)
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To: All
The Pelorus


8 posted on 01/28/2025 11:44:22 AM PST by BenLurkin (The above is not a statement of fact. It is either opinion, or satire, or both.)
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To: RandFan
five luxury yachts over the course of the 2000s that were involved in the tax scheme

So he didn't lease out any of these ships?

9 posted on 01/28/2025 11:46:05 AM PST by BenLurkin (The above is not a statement of fact. It is either opinion, or satire, or both.)
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To: BenLurkin

Helicopter pad at the stern?


10 posted on 01/28/2025 11:47:39 AM PST by one guy in new jersey
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To: one guy in new jersey

I think that’s the bow.


11 posted on 01/28/2025 11:48:50 AM PST by BenLurkin (The above is not a statement of fact. It is either opinion, or satire, or both.)
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To: wildcard_redneck

If any of us had these schemes we’d be in jail

Abramovich is well connected!


12 posted on 01/28/2025 11:57:23 AM PST by RandFan
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To: RandFan

I would imagine yachts can be foreign flagged vessels and subject only to the least onerous tax schemes on offer.


13 posted on 01/28/2025 12:03:14 PM PST by Brian Griffin
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To: RandFan

“bought five luxury yachts over the course of the 2000s”

That would make it appear that he actually was running a yacht business.

One can only sail on one yacht at a time.


14 posted on 01/28/2025 12:05:48 PM PST by Brian Griffin
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To: one guy in new jersey

In the bow. But the “H” could mean “Lie down HERE, all you gorgeous young things.”


15 posted on 01/28/2025 12:08:39 PM PST by ProtectOurFreedom (They were the FA-est of times, they were the FO-est of times.)
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To: Brian Griffin

It might be like potato chips. You think you can just eat one, but pretty soon the bag is empty.

You think you’re only going to buy one ultra-luxury superyacht, but suddenly you look around and you’ve got 5 of the darned things.


16 posted on 01/28/2025 12:10:31 PM PST by chrisser (I lost my vaccine card in a tragic boating accident.)
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To: RandFan

this is what the bbc is focused on?

not the rape/torture gangs?


17 posted on 01/28/2025 12:23:05 PM PST by joshua c
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To: Brian Griffin

Actually people who own these things rarely if ever “sail” on them. They hire crew to move the boat to a location then they fly in to hang out on their yacht until they get bored, leave and the crew takes it somewhere else.


18 posted on 01/28/2025 12:25:29 PM PST by cyclotic (Don’t be part of the problem. Be the entire problem)
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To: Brian Griffin
One can only sail on one yacht at a time.

,,, he was probably continuously invited aboard by his wide range of clients LOL!

The thought just hit me - what if you had an interest in Doric or Poseidon and you just happened to board a flight on an operator that leased from those entities? I hope I'm not going to turn into a tax engineer when the clock strikes midnight.

19 posted on 01/28/2025 12:35:33 PM PST by shaggy eel (A long way south of the border.)
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To: RandFan
What's more VAT [sales tax] fraud is considered very serious in Europe and the UK in a lot of cases it's prison time. Yet he wont be touched. Amazing.

The more money ya got, the more "justice" you can buy.

20 posted on 01/28/2025 2:34:29 PM PST by kiryandil (No one in AZ that voted for Trump voted for Gallego )
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