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The frozen proceeds of Roman Abramovich’s sale of Chelsea are being investigated in Jersey over whether they “amount to the proceeds of crime”, according to accounts published by the company through which the Russian owned the football club.
This relates to investigations into the sanctioned oligarch and is unconnected to the new owners who bought Chelsea in 2022 but further complicates moves to release the cash to help Ukrainians.
Mr Abramovich, who has previously denied wrongdoing linked to his finances and close connections to President Vladimir Putin, was sanctioned by the UK and Jersey governments in 2022 at the start of Russia‘s full-scale invasion of Ukraine in a targeting of oligarchs.
That led to the enforced sale of his Premier League asset and he has remained in dispute with UK governments over how much of the cash goes to humanitarian causes and who receives it.
Newly-published accounts published on Companies House by Fordstam Limited – Chelsea’s parent company in the Abramovich ownership era – show funds from the sale now stand at £2.407bn but the assets are frozen.
They only “intend” to give £987m to a charitable foundation after loans are repaid – rather than the full amount demanded by Prime Minister Sir Keir Starmer to help Ukrainians.
And a further complication is notes in the Fordstam accounts saying: “From judgments published by the Jersey Court in November 2025, it is understood that the funds provided by Camberley International Investments Limited may be affected by an ongoing criminal investigation initiated by the attorney general of Jersey, into whether certain assets (potentially including the net proceeds) amount to the proceeds of crime.”
Mr Abramovich’s Jersey-based Camberley International Investments is owed £1.429bn from an interest-free loan previously provided to fund Chelsea.
Jersey’s attorney general opened a money…
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