The BBC reports that Roman Abramovich could owe the UK £1 billion linked to a flawed tax strategy regarding hedge fund investments. An investigation revealed that $6 billion of these investments, funneled through British Virgin Islands entities, were actually managed from the UK, implicating potential tax liabilities. Former Chelsea FC director Eugene Shvidler is central to the scheme's management and is under scrutiny. Calls for an HM Revenue and Customs investigation have gained traction, emphasizing the importance of recovering funds for public services.
At the heart of the scheme was Eugene Shvidler, a former Chelsea FC director, suggesting the companies should have been paying UK tax.
Evidence suggests investments worth $6bn were managed from the UK and should have been taxed there, potentially costing Abramovich up to £1bn.
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