Abramovich's close associate misled UK court in £1bn oil-fields case, documents suggest

Key Points:

• Eugene Tenenbaum, former Chelsea FC director and wealth manager for Roman Abramovich, testified in a 2008 court case over Siberian oil fields, denying any wrongdoing despite new evidence suggesting he may have misled the court.
• The case involved the dilution of Russian billionaire Chalva Tchigirinsky's company, Sibir Energy PLC's, 50% stake in a joint venture with Abramovich's Sibneft to less than 1%, allegedly without Sibir's knowledge.
• Leaked documents from offshore companies and financial records indicate a possible premeditated attempt by Abramovich to reduce other investors' stakes, with some court documents potentially falsified, raising questions about the integrity of Abramovich's advisers.
• Abramovich's legal team denied allegations of fraud or premeditated dilution, emphasizing that the 2008 judgment found no evidence Abramovich received Yugraneft's property or assets.
• Investigations by Panorama and partners, part of the Cyprus Confidential project, have revealed involvement of major firms like Deloitte in concealing Abramovich's wealth and evading taxes, highlighting broader concerns over oligarch financial practices.