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Friday, May 3, 2024

The Island Where Abramovich Kept His $7 Billion Now Scrutinizing the Oligarch

The island of Jersey has never been formally incorporated into the UK. (Photo: AFP)

For years authorities on this small island in the English Channel have tried to clean up its image as a tax haven for the super rich, marketing it as a well-governed offshore financial center enshrined in the rule of law.

The makeover helped draw billions of dollars in new assets to the territory from other well-known, but scandal-plagued havens like the British Virgin Islands and the Cayman Islands.

Part of that migration of money: Russian oligarch Roman Abramovich, who has increasingly concentrated his wealth here.

The island has offered him residency and became the home to some of his closest advisers.

Now, Jersey officials are in an awkward…

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