Monaco club owner under investigation over art dispute

Monaco club owner under investigation over art dispute

by Joseph Anthony
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Russian billionaire Dmitry Rybolovlev, President of AS Monaco

A Monaco judge is investigating AS Monaco football club owner Dmitry Rybolovlev over allegations of complicity in invasion of privacy as part of a dispute with an art dealer, a source close to the Russian billionaire said on Thursday.

Being put under investigation in Monaco is not equivalent to being charged. It is the first step in a probe, in which judges inform the person in question of the allegations against them before questioning at a later stage.

Judicial authorities in Monaco declined to comment.

In a statement emailed to Reuters, Rybolovlev said that he had done nothing wrong and would fully cooperate with the judicial authorities.

โ€œI am certain that the Monaco judicial system โ€ฆ will clarify all this,โ€ he said in the statement, in which he also repeated allegations that he has been a victim of fraud.

The case is linked to an investigation into a dispute between Rybolovlev and Swiss art dealer Yves Bouvier. That dispute led to the resignation last month of the head of Monacoโ€™s judicial services after Le Monde daily wrote about connections between Rybolovlev and Monegasque justice officials. All those involved have denied wrongdoing.

The matter at stake in Thursdayโ€™s move is the taping by a lawyer for Rybolovlev of conversations linked to the broader investigation, French media said.

Rybolovlev, who has an estimated fortune of $7 billion largely from his ownership of potash producer Uralkali, took over AS Monaco in 2011 and lives in the principality.

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