Hiding Money: The Abramovich Case
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Vocabulary
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Roman Abramovich is a very rich man from Russia. He owned a famous soccer team in England. Big companies helped him hide his money. They made false papers to show he had less wealth than he really had.
The Hidden Assets
Abramovich owned big houses and expensive yachts. These things were worth 672 million dollars. But false documents made them disappear from his money records. A big company called Deloitte signed the fake papers. This helped him avoid paying taxes on his fortune.
What Happened Next
In 2022, Russia attacked Ukraine. The UK government said Abramovich was a bad person. They took away his money and forced him to sell his soccer team. Now his money is frozen. He had to leave England and live in another country.
Discussion Questions
- Why did Abramovich need to hide his wealth?
- What did the false documents do to his business records?
- Who helped him hide his money and why was that wrong?
- What happened to him after Russia attacked Ukraine in 2022?
- Do you think this kind of hiding money is a serious problem?
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