Report: Russian Oligarch Leased His Yachts to His Own Firms to Duck Taxes

Documents uncovered by a consortium of investigative journalists appear to show that Russian oligarch Roman Abramovich – one of the world’s wealthiest people – leased his five superyachts out to shell companies that he controlled in order to create the appearance of commercial chartering activity, thereby avoiding millions of dollars in EU value added tax. In a statement, his lawyers told the BBC that Abramovich “always obtained independent expert professional tax and legal advice” and followed it. 

The yac…