Investigation may be looking at whether Roman Abramovich's Chelsea sale cash is proceeds of crime'

"Fordstam's accounts state that this loan may be affected by an ongoing criminal investigation initiated by the attorney general of Jersey, into whether certain assets (potentially including the net proceeds) amount to the proceeds of crime. Jersey prosecutors are looking into the origins of the oligarch's wealth, acquired during the chaotic rise of capitalism in Russia in the 1990s and 2000s."

"Abramovich funded Chelsea via loans routed through a complex network of offshore companies, helped by a fortune made from the oilfields of Siberia. These loans included 1.4bn provided interest free by Abramovich's Jersey-based company, Camberley International Investments Ltd."

"The cash has been frozen since 2022, when sanctions were imposed on Abramovich in response to the invasion of Ukraine by the UK and EU, over his closeness to Vladimir Putin."

Jersey authorities are investigating whether the £2.4bn proceeds from Roman Abramovich's 2022 Chelsea FC sale constitute proceeds of crime, according to Companies House documents. The funds remain frozen in a Barclays account since UK and EU sanctions were imposed on Abramovich following Russia's invasion of Ukraine. The investigation focuses on the origins of Abramovich's wealth, accumulated during Russia's chaotic 1990s-2000s capitalism rise through Siberian oilfields. Chelsea was funded via complex offshore loan networks, including a £1.4bn interest-free loan from Abramovich's Jersey-based company. The criminal investigation by Jersey's attorney general could complicate ongoing disputes between Abramovich and the UK government over releasing the sale proceeds. Abramovich has denied all wrongdoing allegations.

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