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Home News Swiss prosecutors say opened case against Rybolovlev in 2021

Swiss prosecutors say opened case against Rybolovlev in 2021

Published on 04/11/2022
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Swiss prosecutors confirmed Friday that they had opened a case against Russian oligarch Dmitry Rybolovlev, the president of AS Monaco football club, last year, without detailing the reasons.

A report Thursday on the Gotham City investigative news site said the Russian billionaire was being investigated for “suspected acts illegally carried out for a foreign power”.

The office of Switzerland’s attorney general confirmed to AFP that a “procedure opened in February 2021”, stressing that, as in all cases, Rybolovlev should be presumed innocent until proven guilty.

It provided no further details.

But according to a federal criminal court decision last month, the procedure was launched in connection with a complaint filed in September 2017 — reportedly by Swiss art dealer Yves Bouvier — and after the justice ministry gave the green light to move forward in January 2021.

Rybolovlev’s lawyers did not immediately respond to requests for comment on the case.

The Russian oligarch and Bouvier have a long, contentious history.

Rybolovlev has brought numerous cases against the art dealer since 2015 in Monaco, Singapore, Hong Kong, New York and Switzerland, accusing Bouvier of swindling him out of millions of dollars.

He has alleged that Bouvier charged him inflated prices on dozens of works he acquired for more than $2.1 billion.

After Rybolovlev suffered setbacks in the other jurisdictions, and saw his case against the art dealer thrown out in Monaco in 2019, the office of Geneva’s top prosecutor also said it planned to drop the case.

But after the Russian oligarch appealed against that decision, the Geneva judiciary backtracked last July and reopened the case.

Bouvier has always maintained his innocence in that case.