The secret world of multimillion-pound art deals is facing a US inquiry into allegations of money laundering. Federal investigators have opened an inquiry into Yves Bouvier, a Swiss businessman described as “one of the art world’s consummate insiders”.
The US Department of Justice is examining the sale of paintings by artists including Leonardo da Vinci, Modigliani, Gustav Klimt and Mark Rothko, according to Bloomberg News.
Authorities in Monaco are investigating claims by the Russian oligarch Dmitry Rybolovlev that Mr Bouvier defrauded him by inflating prices on painting acquisitions and keeping the difference.
The original article can be found at independent.co.uk