← Kerr University  |  Daily News
Business & Politics · 8 Advanced · October 12, 2026

How Abramovich Concealed Billions Through Falsified Records

How Abramovich Concealed Billions Through Falsified Records
Photo: Dawid Tkocz via Pexels

Vocabulary

oligarch /ˈɑːlɪɡɑːrk/ noun
a wealthy and powerful businessman who has significant political influence, especially in Russia
Roman Abramovich was the most prominent Russian oligarch in the United Kingdom for nearly two decades.
evasion /ɪˈveɪʒən/ noun
the act of illegally avoiding paying taxes or other legal obligations
A financial services barrister called the evidence straightforward tax evasion.
sanctioned /ˈsæŋkʃənd/ verb
officially punished or restricted by a government or organization
Following Russia's full-scale invasion of Ukraine in 2022, the UK government sanctioned him as an associate of Vladimir Putin.

Article

An investigation by BBC Panorama and the Bureau of Investigative Journalism has revealed that the accounting firm Deloitte helped Roman Abramovich hide approximately $672 million in assets by falsifying documents in Cyprus. The scheme removed superyachts, mansions, and private jets from official company records, effectively making them disappear from accounts. Deloitte also appears to have provided guidance on evading substantial tax obligations through backdated paperwork. A financial services barrister called the evidence "straightforward" tax evasion, yet Abramovich's legal team maintains he had no knowledge of or involvement in the falsifications.

Kerr University™ subscribers

Get full access to every level and category, plus one-on-one guidance in class

This lesson continues with 3 more vocabulary words, the full article, natural-voice audio and discussion questions. Subscribers get every Daily News lesson, at every level.

New here? Book a free 30-minute class or try a free sample story.

Open the full interactive lesson with tap-to-hear on every word →

Ready to speak English with real confidence?
Work 1-on-1 with Digby R. Kerr.
Claim Your Free 30-Min Class