Billionaire Rybolovlev, who accused Sotheby’s of fraud, lost the trial
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Billionaire Rybolovlev, who accused Sotheby’s of fraud, lost his trial
How reports CNBC portal, the Federal Court of New York rejected the claim of Russian oligarch Dmitry Rybolovlev against the Sotheby’s auction house on charges of fraud with works of art.
The civil suit, which Rybolovlev filed in U.S. District Court in Manhattan, involved more than $100 million in purchases made by the businessman through art buyer Yves Bouvier.
“Sotheby’s, as a transaction broker, assisted Bouvier in concealing the fraudulent price he had set…. The auction house knew the actual prices that Bouvier paid the sellers, as well as the fraudulently inflated prices that Bouvier caused the plaintiff to pay him,” the lawsuit states.
“The jury ruled in favor of Sotheby’s on all counts of the civil suit,” the portal writes.
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