Dmitri Rybolovlev of Russia, President of AS Monaco Football Club, arrives to attend AS Monaco training in La Turbie, France, March 29, 2018. REUTERS/Eric Gaillard
(Reuters) – A Monaco court on Wednesday upheld an earlier ruling dismissing a case against a prominent art dealer accused by a Russian oligarch of fraud and money laundering, lawyers for the art dealer said.
Monacoâ€™s appeals court in December ordered the closure of a preliminary investigation opened by local authorities into art dealer Yves Bouvier in 2016 in response to a complaint brought by Dmitry Rybolovlev.
Rybolovlev is the wealthy owner of Monacoâ€™s soccer team, who in 2008 bought an oceanfront property in Palm Beach, Florida, from Donald Trump.
The Monaco Court of Revision confirmed the decision to cancel â€œall criminal proceedings against Swiss art dealer Yves Bouvierâ€, Bouvierâ€™s lawyers said in a statement.
However, Bouvier still faces criminal proceedings brought by Rybolovlev in Geneva, where he is also charged with fraud, abuse of trust and money laundering, Rybolovlevâ€™s lawyers said.
Rybolovlevâ€™s lawyers have accused Bouvier of telling the oligarchâ€™s family companies that he had negotiated a high price for artworks when â€œin fact he had already negotiated – for himself – a price much lowerâ€ than the payments he collected.
Bouvierâ€™s lawyers said that the art dealer has always respected the law and the binding nature of his contracts.