A leak-based investigation alleges Deloitte Cyprus helped Abramovich-owned entities move billions of dollars in assets from Cyprus to the British Virgin Islands through backdated paperwork and false asset declarations to minimize taxes and increase opacity.

MeritServus reportedly signed and backdated documents to create a false history of ownership, thereby reducing apparent asset values in Cypriot accounts.

A separate scheme involving Kravin Investments in 2003–2005 used backdated documents and revised financial statements to minimize or avoid tax on substantial Cyprus-based interest income.

Cypriot lawmakers say they should consider recovering any lost revenue and holding responsible parties accountable under the law if wrongdoing is established.

Deloitte Cyprus says its actions were fully compliant with the law and defends its conduct.

The report raises ongoing questions about accountability and the possible role of major firms in facilitating asset concealment through backdated transactions.

The article does not detail concrete legal actions against Deloitte Cyprus or Abramovich, but highlights serious allegations and the need for further scrutiny.

Andrew Mitchell KC called the scheme straightforward tax evasion, suggesting prosecutions could occur if conducted in England, while Cypriot officials aim to recover evaded taxes.

Experts and officials describe the actions as tax evasion and violations of statutory duties, with calls for accountability where applicable in Cyprus or the UK.

The investigation notes broader context: sanctions on Abramovich, the sale of Chelsea FC, and ongoing Jersey criminal investigations related to his assets.

Deloitte Cyprus says it cannot comment on specific allegations due to the age of documents and unavailability of cited correspondence, and MeritServus has closed following the Cyprus Confidential leak.

Deloitte Cyprus maintains it operates in line with laws and cannot address historical documents dating back more than two decades.