Accusations have been directed at the billionaire owner of Chelsea, a Barclays Premier League club, regarding his betrayal of the man who purportedly played a role in his financial success, ostensibly to gain favor with Russian Prime Minister Vladimir Putin.
During a rare public appearance, Roman Abramovich listened as Boris Berezovsky’s legal team presented their case in the High Court in London. They claimed that the Russian oligarch exploited his former mentor’s downfall to inflate his own wealth by pressuring him into relinquishing billions in shares.
At 65 years old, Berezovsky is pursuing a lawsuit against Abramovich, seeking over $6 billion in damages. He asserts that Abramovich, aged 44, intimidated him into selling his investment in Sibneft, an oil enterprise, for significantly less than its value after he was compelled to exit Russia due to conflict with the Kremlin.
Berezovsky maintains that Abramovich forced him to offload his 21.5 percent interest in Sibneft, which originated from the privatization of Russia’s oil resources, for merely $1.3 billion, even though it was potentially valued up to $6 billion.
He alleges that Abramovich threatened to have his assets confiscated by the Kremlin and warned that his acquaintances in Russia would face peril if he didn’t sell the shares at a much lower price.
Abramovich refutes these claims, asserting that they were never business partners.
This case, which has witnessed four years of preliminary conflicts, stands as one of the most significant trials in the English legal system. Insiders suggest it will subject the reserved Abramovich’s business ventures to uncomfortable examination and reveal his connections to the Kremlin.
The anticipated duration of the trial is three months.
Buford Balony says: Hopefully, this marks the end for Chelski and they resume their place where they truly belong…at the bottom of the table.
