Russian billionaire Roman Abramovich has been denied Swiss residency because police consider him a threat to Switzerland's security and reputation, local media reported.

Swiss publication 24 Hours alleged the federal police was blocking the billionaire's visa application due to suspicions of criminal activity, after he lost a legal battle to try to prevent the story from being published.

Abramovich denies any wrongdoing.

The 51-year-old owner of Chelsea football club has never been indicted in Switzerland or elsewhere.

The allegations are based on unverified police suspicions which emerged after Zurich-based publisher Tamedia obtained a letter from police.

Abramovich's lawyer has said that the billionaire has never had, or been alleged to have, connections with criminal organizations. "Any suggestion that Mr. Abramovich has been involved in money-laundering or has contacts with criminal organizations is entirely false," he said.

Tamedia's news outlets, including 24 Hours, have now reported that the Federal Office of Police viewed Abramovich's potential presence in the country as a danger to public security and to Switzerland's reputation.

The police did not set out the basis for their claims, the reports say.

Mr. Abramovich's legal team has filed a request to the police for a correction of the facts and are filing a criminal complaint regarding dissemination of the information, his lawyer said.

Abramovich had hoped to settle in Switzerland, where special residency permits can be granted to wealthy foreigners who boost tax revenue.

The oligarch is unable to work in the UK as a Russian citizen after delays in extending his investor visa in the country.

He became an Israeli citizen in May this year, which allows him to travel to the UK without a visa for visits.

(Cover: Roman Abramovich, owner of Chelsea F.C., is seen at an English Premier League football match at Stamford Bridge in London, August 15, 2016. /VCG Photo)