- The European Bank for Reconstruction and Development (EBRD) takes Chelsea’s billionaire boss to court.
- Roman Abramovich has been charged with alleged involvement in fraudulent transactions.
Chelsea owner and Russian billionaire, Roman Abramovich, is on trial in Switzerland for allegedly defrauding a publicly-funded European bank of millions of taxpayers’ money.
Proceedings commenced on Wednesday in the city of Fribourg by a court against the 52-year old businessman, amid heightened security.
The Russian energy Company Gazprom, co-owned by Roman Abramovich is been sued by the European Bank for Reconstruction and Development (EBRD) for payment of long-standing multi-million loan debt.
The case dates back to the year 2000 and has vast international dimensions, with a Swiss-based company, Runicom, said to be involved.
The claimants have vowed to pursue Abramovich anywhere he goes, in a chat with the British Broadcasting Corporation (BBC) earlier this year. Gazprom has provided an argument that a Swiss court has no jurisdiction in the highly complex case.
However, a ruling of the Swiss Supreme Court states that the lawsuit can be held in Switzerland, although there is no clarity on how long the trial will last.
Also, did you miss our story on Abramovich as he withdraws his UK visa application renewal? Click to read now!
Chelsea’s owner Roman Abramovich has withdrawn his British visa application due to delays in its renewal amid reports that he has acquired Israeli citizenship. Click the link to read more on this intriguing story.
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