The French press has dubbed the scandal "Monaco-gate."Also at artnet: "Swiss Authorities Investigate Charges That ‘Freeport King’ Yves Bouvier Owes More Than $100 Million in Back Taxes".
In what the French press is calling “Monaco-gate,” Philippe Narmino, the minister of justice for Monaco, has resigned after French newspaper Le Monde published text messages revealing that he worked on behalf of Russian oligarch Dmitry Rybolovlev to influence a billion-dollar art-fraud case.
Narmino, 64, reportedly decided to take “early retirement” just hours after Le Monde posted the texts, which suggest “a vast influence-peddling scandal at the heart of Monaco institutions,” according to the newspaper. artnet News reached out to Monaco’s Ministry of Justice, which referred us to the Monaco Court of Justice. The court had not responded to request for comment as of publication time.
Rybolovlev, 50, is a mining billionaire and a majority owner of AS Monaco football club. He allegedly recruited Narmino and other officials in the Ministry of Justice to help him pursue Yves Bouvier, a prominent Swiss art collector and dealer who once represented the billionaire. Rybolovlev claimed that Bouvier cheated him out of as much as $1 billion by misrepresenting sale prices on some 38 artworks, including pricey masterpieces by Leonardo da Vinci, Pablo Picasso, Amedeo Modigliani, and Van Gogh—which the billionaire bought for a total of $2 billion.
According to reports, hundreds of text messages exchanged between Rybolovlev, his attorney and close associate Tetiana Bersheda, and Narmino included information about an all-expenses-paid ski trip for Narmino and his wife at the billionaire’s Swiss chalet in Gstaad, as well as a private helicopter ride and other expensive gifts....MORE
If interested see also:
WTH Is Up With Rybolovlev? "A $100 Million Mystery: A Russian, His Art, and His Big Losses"
Oprah Said to Snag $150 Million Selling Klimt to Chinese Buyer
Big Money: What Geneva’s Art King Lost in Battle with Russian Billionaire
Big Money: "What Did Sotheby’s Know And When Did They Know It"
Dirty deeds, not dirt cheap.Art: War Between the 'Freeport King' and the Oligarch and How Dmitry Rybolovlev Made a Quick $300 Million
It's pretty well established that the punishment for an agent's breach of the duty of loyalty to his principal is death.
At least in Russia at any rate
"Oligarchs and Orchestras: Inside Luxembourg’s Secretive Low-Tax ‘Fortress of Art’ Warehouse"
The Power of Potash: Russian Billionaire Part of Record Deal For Trump Mansion
