Switzerland's federal police advised against Roman Abramovich becoming a resident in the country due to the threat he posed to their public security.
Chelsea's owner had planned on moving to the Swiss canton of Valais in February 2016 after applying for residency there, before running into trouble with Swiss media outlet Tamedia regarding personal information.
As reported by the Guardian, the Russian oligarch lost a seven-month legal dispute against the newspaper company publishing information regarding his failure to gain residency, with police reporting that Abramovich is known for "suspicion of money laundering and presumed contacts with criminal organisations".
Swiss federal police also claimed that "the applicant’s assets are at least partially of illegal origin", although Abramovich's lawyer, David Glasl, has released a statement to refute those claims.
“Any suggestion that Mr Abramovich has been involved in money laundering or has contacts with criminal organisations is entirely false," said Glasl.
"Mr Abramovich has never been charged with participating in money laundering and does not have a criminal record. He has never had, or been alleged to have, connections with criminal organisations."
Abramovich had secured an injunction in February this year to ban any mention of police concerns in the media, which was overturned in a legal process ending on Friday, before Tamedia published their story on Tuesday.
Despite being made public, the allegations made are not court proven, meaning that Abramovich for the time being is presumed innocent.
News of the apparent failed attempt of Swiss residency is the latest setback for the Russian billionaire, after he recently was denied a British visa in August, while conflicting reports suggest he's readying to sell the London club.