ROMAN Abramovich’s lawyers have renewed their claim that Jersey’s criminal investigation into his wealth is politically motivated – arguing that the Island welcomed his assets before Russian investment became “politically inconvenient”.
In a statement provided to the JEP following the new BBC Panorama investigation, law firm Kobre & Kim said their client’s position had not been reported in full by the broadcaster.
The firm said Jersey’s government actively sought investment from the Russian billionaire from around 2016 and granted him High Value Residency status following a “robust vetting process” involving Jersey and UK authorities.
Business licences were also approved for connected companies, resulting in more than $7 billion of assets associated with him moving to Jersey, the lawyers said.
They argued that the criminal investigation launched in early 2022 relied on material from a 2012 English court judgment which had already been brought to Jersey authorities’ attention during checks in 2016.
The firm claimed the change from welcoming his assets to alleging they were criminal property “strongly indicates that the investigation is being pursued for improper political purposes”.
It also alleged that the criminal investigation had continued for more than four-and-a-half years “without any meaningful progress”.
Mr Abramovich denies the Attorney General’s allegations about the origins of his wealth.
The lawyers also criticised the handling of Mr Abramovich’s requests for personal data, citing court findings that the government breached its disclosure obligations.
In a previous statement, the government stressed that the Attorney General is constitutionally independent and that ministers have “no authority or influence” over his investigation.
It said it was defending the separate civil proceedings and “categorically rejects allegations of conspiracy, misfeasance in public office or bad faith”.
More than £5 billion of assets linked to the former Chelsea owner remain frozen in Jersey.
Mr Abramovich also denies the allegations in the BBC investigation, which reported that falsified documents were used to conceal his wealth and evade tax.
