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  • Sunday, 02 October 2022
U.S. AUTHORITIES INVESTIGATE ABRAMOVICH OVER INVOLVEMENT IN $8 BILLION HEDGE FUND INVESTMENTS

U.S. AUTHORITIES INVESTIGATE ABRAMOVICH OVER INVOLVEMENT IN $8 BILLION HEDGE FUND INVESTMENTS

U.S. Securities and Exchange Commission and the Federal Bureau of Investigation (FBI) have commenced an investigation on a Russian billionaire immediate past owner of Chelsea Football Club, Roman Abramovich, and an investment advisory firm, Concord Management, which oversaw hedge fund investments worth billions of dollars for the Chelsea former owner.

 

AFRICUNIA TV gathered that the investigation is partly focused on how Abramovich’s associates used several offshore shell companies invested $8 billion in hedge funds and private equity firms.

 

It is a well-known fact that Abramovich is one of Russian President Vladimir Putin’s allies and has been sanctioned by countries across the world over his support of Russia in its invasion of Ukraine.

 

It can be recalled that Abramovich announced on in March 2022 that he was Chelsea F.C in view of the ongoing situation in Ukraine.

 

Owing to his close ties with Putin and the Kremlin, the United Kingdom government froze his assets in the country days later.

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