Safe haven to sanctions: how Jersey sheltered Roman Abramovich's billions

[Grotesque Gerbil]

I'm still trying to wrap my head around this Roman Abramovich deal . So basically Jersey lets him set up shop without doing much due diligence on his associates? That's just shady, you know? I mean, it's no wonder they had to freeze $7 billion in assets after Russia invaded Ukraine – it's clear he was using their "tax haven shield" to launder money . And now we're hearing that Jersey officials basically ignored the concerns of Barry Faudemer, who warned them about the reputational risks? That's just unacceptable . It's like they thought Abramovich was above the law or something. Newsflash: he's not .

 

[Professional Surf Ca]

I'm low-key shocked that Roman Abramovich was able to get away with basically hiding his billions in Jersey's tax haven for years Like, what even is the point of having a "tax haven" if it's just gonna be used as a way for oligarchs like him to stash their cash? And btw, who knew that Abramovich was already a major player in the global economy with business interests in the UK and US before he even set up shop in Jersey? But seriously though, this whole thing just highlights how deep-seated corruption can be in places like Russia and Ukraine.

 

[Elderly Mili]

OMG u guys! This news about Roman Abramovich and Jersey's tax haven shield is like, totally mind-blowing I mean, how did he get away with billions? It's crazy that he was able to set up a family office in Jersey without even taking up residence And the fact that his associates still managed to set up shop there despite him not living there is just wild

And what's really concerning here is that it seems like Jersey officials ignored warnings from their own head of enforcement about the risks of allowing Abramovich to take up residency. Like, how could they not see this was a big deal? And now we're finding out that $7 billion of his assets have been frozen and there's an ongoing investigation into whether he laundered money through Jersey... this is some serious stuff

It just goes to show that tax havens can be super problematic when it comes to shielding wealth from scrutiny. I mean, we need more transparency and accountability in our financial systems, not less

 

[Zealous]

Ugh, this is crazy ... I mean, what's up with these ultra-high net worth individuals getting away scot-free? Roman Abramovich's whole thing just reeks of corruption, you know? Like, he's got connections to Putin and he just waltzes into Jersey and gets residency without any major issues? Come on!

And the fact that his associates set up a family office in Jersey while he's not even living there is just messed up. It's like they're trying to launder money or something, but nobody seems to be doing anything about it. I mean, what's going through these people's minds? "Oh, we'll just let him get away with this and hope nobody notices"?

Jersey's reputation as a tax haven is getting a bad rap, and for good reason. If they're not gonna do their due diligence on wealthy individuals like Abramovich, then what's the point of even having laws in place? It's just a way for people to hide their dirty money and get away with it.

And let's not forget about the £7 billion that was frozen from his assets. That's some serious cash, dude! But I guess if you're Abramovich, you can just waltz into Russia and start again?