Russian oligarch Rybolovlev loses suit accusing Sotheby's of art fraud

1 yıl önce

Dmitry Rybolovlev, president of As Monaco Football Club SA, arrives at court in New York, US, on Tuesday, Jan. 9, 2024. Auction house Sothebys abused its privilege, power and reputation to help dupe Russian billionaire Dmitry Rybolovlev out of millions of dollars as he built a world-class art collection, lawyers for the wealthy businessman argued on the first day of a closely-watched trial.

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Russian billionaire Dmitry Rybolovlev on Tuesday lost a New York federal court lawsuit in which he had accused the Sotheby's auction house of helping an art buyer defraud the oligarch by having him grossly overpay for various pieces of art.

A jury found for Sotheby's on all counts that Rybolovlev had alleged in the civil suit, which related to more than a hundred million dollars in purchases the 57-year-old fertilizer magnant made through art buyer Yves Bouvier.

The auction house in a statement said that the verdict "reaffirms Sotheby's long-standing commitment to upholding the highest standards of integrity, ethics, and professionalism in all aspects of the art market."

"We are grateful to the jury for its verdict, which totally vindicates Sotheby's of any alleged misconduct," Sotheby's said.

"Throughout the trial, there was a glaring lack of evidence presented by the plaintiff and, as has been clear from the beginning, Sotheby's strictly adhered to all legal requirements, financial obligations, and industry best practices during the transactions of these artworks."

Rybolovlev bought a Palm Beach, Florida, mansion from former President Donald Trump in 2008.

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