Roman Abramovich withdrew a bid for Swiss residency earlier this year after a police report said he was considered a security threat with links to money laundering.

The Russian-Jewish billionaire wanted to establish legal and tax residency in the village of Verbier, where he owns a large ski resort, and personally approached the head of the Swiss federal police to insist it be granted.

But the Swiss daily Tages Anzeiger reported Mr Abramovich’s application dating from July 2016 was in fact on the verge of being refused because of his alleged money laundering and alleged contacts to criminal organisations.

A police report detailing the allegations was leaked in February this year but only made public on Tuesday after Switzerland’s federal Supreme Court overturned an injunction secured by Mr Abramovich’s legal team.

It said Mr Abramovich’s presence in the country would constitute “a reputational risk – and possibly even a public security risk”, the newspaper reported, adding that the oligarch had contested the police report.

His Swiss lawyer Daniel Glasl said: “Any suggestion that Mr Abramovich has been involved in money laundering or has contacts with criminal organisations is entirely false.

“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.”

The Chelsea FC owner earlier this year withdrew an application to renew his UK residency visa.

He instantly became Israel’s wealthiest citizen in May when he flew by private jet to Tel Aviv, where he was given identity papers and an Israeli passport.

The move meant Mr Abramovich was able to enter the UK and other European Union countries because no visa is required for Israeli passport holders.