In Monaco, police have detained the Russian business tycoon and art dealer Dmitry Rybolovlev – the owner of AS Monaco – a prominent football club popular in the French league. According to the leading French newspapers, the charges against Dmitry Rybolovlev is quite serious including influence peddling and corruption. It is said that police have already raided this business tycoon’s luxury residence “La Belle Epoque” in Monaco.

Rybolovlev’s involvement with Swiss art dealer:

A local judge in Monaco has been doing investigations against Rybolovlev for over a year whether Mr. Rybolovlev pursued influence the Monaco law administration officials in his own long-running disagreement with Yves Bouvier – the Swiss art dealer and the former art advisor of him.  

The Russian business tycoon claims Mr. Bouvier has cheated him out of $1 billion by overcharging on almost 38 pieces of art collections that he purchased through the 10-year period. Now, Rybolovlev is suing Mr. Bouvier in Switzerland, Monaco and Singapore but the Swiss has denied all these wrongdoings.

 

Rybolovlev and his partners of crime:

Dmitry Rybolovlev is the owner of AS Monaco – a financially struggling soccer club in Monaco. He also has created controversies there. To save the club from bankruptcy, Rybolovlev tried to influence legal acts after buying 66% stake of the club. The investigation against the Monaco fraud case is still on. Though the club has performed really well after Rybolovlev owned the club, the controversies needed to be solved yet. According to the newspaper reports, the allegation is against Rybolovlev along with three other persons including one of his lawyers. The son and the wife of Philippe Narmino – the past justice minister of Monaco were the other two companions. They were taken for interrogation.

Another famous legal battle opponent of Rybolovlev is Yves Bouvier. Since 2015 they two are involved in a serious legal battle. The second one is a Swiss art dealer and the former art advisor of Rybolovlev for swindling $1 billion from him.

Police have detained Rybolovlev for overnight and interrogated him. They had a clue after seizing a mobile from his lawyer Tetiana Bersheda.

 

Rybolovlev and his art controversies:

On 2nd October this year, Rybolovlev has opened a new opposition in the legal battle when he launched a $380 million claim through the New York court against the “Sotheby’s auction house”. In this lawsuit, has accused that the auction house has helped the fraud art dealer Yves Bouvier to carry out the largest fraud in the history of art. The fraud includes the acquisition of almost 38 art works that Rybolovlev has bought for more than $2.1 billion. During these purchases, Bouvier has tricked Rybolovlev. Sotheby’s Dmitry Rybolovlev auction house has already declaimed the legal charges by giving a statement “entirely without merit”. After declaiming, in 2017, Sotheby has filed a lawsuit from their side in Switzerland against the Russian art dealer and business tycoon Dmitry Rybolovlev.

The art controversies also include the famous fraud auction of “Salvator Mundi”. It is claimed that this is the last painting made by the legend Leonardo da Vinci himself and this masterpiece was owned by Rybolovlev family. In recent past years, Rybolovlev has organized an auction through Christie to sell this painting. The painting was sold at a record price and that too was purchased by an unknown buyer. So, if the painting is really the last creation by da Vinci, for the art’s sake, it must be sold to an art enthusiast or an artist and especially not to the richest buyer only.

After selling the painting, Dmitry Rybolovlev has bought an expensive beach mansion from now-President of the United States of America for $41 million. After a few years, the mansion was sold for $95 million which cannot possible in reality. A value of any real estate property cannot be raised in this manner. This real estate deal is also getting securitized by the court till now.


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