Abramovich’s legal battle in Jersey deepens as court upholds $7 billion asset freeze |
The long-running legal saga surrounding Russian billionaire Roman Abramovich entered a new phase this week after courts in Jersey published a series of long-hidden judgments confirming that a sweeping investigation into suspected money laundering and sanctions breaches will continue. The release of these documents, some of which were issued more than a year ago, sheds unprecedented light on how one of the world’s most powerful businessmen became entangled in the judiciary of a small British Crown Dependency-and how more than $7 billion of his assets came to be frozen.
The rulings confirm that a freeze placed on assets linked to Abramovich will remain in force, dealing a significant setback to the former Chelsea Football Club owner’s efforts to regain control of a vast portion of his wealth. Abramovich, who has consistently denied all allegations of wrongdoing, had challenged both the scope and legitimacy of the inquiry. But Jersey’s courts refused to lift the restrictions or halt the investigation, rejecting claims that the case was politically motivated or rooted in government misconduct.
Until this week, the public knew remarkably little about Jersey’s probe into Abramovich. The court documents reveal that investigators began examining his holdings shortly after he was sanctioned by the UK and by Jersey authorities in March 2022-two weeks after Russia launched its full-scale invasion of Ukraine. Although Abramovich has not been charged with any crime in Jersey, authorities have been scrutinizing the origins of his wealth and whether any part of it may be tied to money laundering or sanctions violations.
A spokesperson for Jersey’s attorney general emphasized that the inquiry would move forward and that the asset freeze remains active. For Abramovich, the stakes are enormous: the frozen assets-worth more than $7 billion-represent a significant fraction of his global holdings.
Abramovich’s........