Criminal proceedings in the Bouvier affair discontinued
Published: Thursday, Dec 7th 2023, 15:10
Updated At: Thursday, Dec 7th 2023, 15:10
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The Geneva public prosecutor's office has dropped the criminal proceedings against Geneva art dealer Yves Bouvier. Russian billionaire Dmitry Rybolovlev has withdrawn his complaint against Bouvier; the parties have reached an agreement.
Bouvier and Rybolovlev have been in a legal dispute since 2015. The owner and president of AS Monaco football club had accused the Geneva-based art dealer of selling him 38 works of art at an inflated price between 2003 and 2014. As a result, he lost around one billion francs.
The objects included paintings by well-known artists such as Pablo Picasso, Amedeo Modigliani and Gustav Klimt. Rybolovlev and his lawyers accused Bouvier of fraud, embezzlement, dishonest management and money laundering.
On November 20, the parties informed the public prosecutor's office that they had reached an agreement. The proceedings were therefore discontinued by order on December 6. The costs of the proceedings, which were set at CHF 100,000, were borne by Bouvier, as the public prosecutor's office also announced.
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