Billionaire Dmitry Rybolovlev Sues Sotheby's For Alleged Multi-Million Dollar Art Fraud
  • 4 months ago
Russian billionaire Dmitry Rybolovlev is suing Sotheby's, claiming the auction house helped defraud him out of tens of millions of dollars in art deals. Rybolovlev relied on art broker Yves Bouvier for purchases, who allegedly inflated prices without Rybolovlev's knowledge and pocketed millions in undisclosed markups. Works involved in the alleged fraud include paintings by Picasso, Modigliani, Klimt, Magritte, and Leonardo da Vinci's "Salvator Mundi." Rybolovlev spent over $2 billion on art purchases from 2002-2014, facilitated by Bouvier.