Swiss officials say Russian oligarch and Chelsea soccer club owner Roman Abramovich has withdrawn an application for residency in Switzerland after authorities made clear it would be rejected.
Lawyers for Abramovich, meanwhile, have lashed out at “defamatory” allegations involving money laundering and denied that he has links to organized crime.
Abramovich had apparently wanted to relocate to the Alpine town of Bagnes, which is known for the Verbier ski resort and a tax structure that allows residents to pay fixed rates based on the value of their property.
The Russian-born Abramovich, who had split his time between Moscow and London, received Israeli citizenship this year after his British visa was not renewed, apparently as part of British authorities’ efforts to crack down on associates of Russian President Vladimir Putin.
Source: The Associated Press