A Singapore permanent resident, currently out on a USD11-million bail after an arrest in Monaco for alleged fraud and money laundering, is asking the Courts to unfreeze his assets.
Swiss businessman and art dealer Yves Bouvier is in the center of a sensational lawsuit that has riveted the international art community.
He has been accused by a Russian billionaire, who has spent more than US$2-billion purchasing important artworks from him, of inflating the prices of art works.
One of the works that he reportedly tried to sell was a Mark Rothko painting for US$186 million, according to Bloomberg.
Apart from selling art, Bouvier, 51, owns an art shipping company and has interests in a string of high-end warehouses where insanely wealthy people keep their art and other valuables.
An injunction filed against Bouvier forbids the businessmen from removing any assets up to $675 million from Singapore.
The hearing is ongoing, according to The Straits Times.
Photo: The Rakyat Post via Artnet News
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A Singapore permanent resident, currently out on a USD11-million bail after an arrest in Monaco for alleged fraud and money laundering, is asking the Courts to unfreeze his assets.
Swiss businessman and art dealer Yves Bouvier is in the center of a sensational lawsuit that has riveted the international art community.
He has been accused by a Russian billionaire, who has spent more than US$2-billion purchasing important artworks from him, of inflating the prices of art works.
One of the works that he reportedly tried to sell was a Mark Rothko painting for US$186 million, according to Bloomberg.
Apart from selling art, Bouvier, 51, owns an art shipping company and has interests in a string of high-end warehouses where insanely wealthy people keep their art and other valuables.
An injunction filed against Bouvier forbids the businessmen from removing any assets up to $675 million from Singapore.
The hearing is ongoing, according to The Straits Times.
Photo: The Rakyat Post via Artnet News
Done reading? Sit back, relax and watch Coconuts TV: