An investigation revealed that Russian oligarch Roman Abramovich saved millions by falsely classifying five superyachts as commercial vessels to avoid VAT in Europe. The yachts, managed by Blue Ocean Yacht Management, were claimed to be chartered out, but all clients were linked to Abramovich. His lawyers stated he acted on expert advice and denied personal responsibility. European authorities had previously taken action against Blue Ocean for unpaid taxes. Full article (Euronews.com)