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 ...
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.
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.
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.
Good memory
It is every person’s God-given right to pay the least amount of tax possible.
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!
So he didn't lease out any of these ships?
Helicopter pad at the stern?
I think that’s the bow.
If any of us had these schemes we’d be in jail
Abramovich is well connected!
I would imagine yachts can be foreign flagged vessels and subject only to the least onerous tax schemes on offer.
“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.
In the bow. But the “H” could mean “Lie down HERE, all you gorgeous young things.”
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.
this is what the bbc is focused on?
not the rape/torture gangs?
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.
,,, 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.
The more money ya got, the more "justice" you can buy.
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