Tag

Dmitry Rybolovlev

All articles tagged with #dmitry rybolovlev

arts1 year ago

"Sotheby's Art Fraud Trial Exposes Dark Side of the Art Market"

The Sotheby's art fraud trial concluded with the jury unanimously finding that Sotheby's had not played a role in any fraud, clearing the auction house of accusations made by Russian oligarch Dmitry Rybolovlev. The trial shed light on the inner workings of the art market and featured testimony from Rybolovlev, who accused a Swiss art dealer of cheating him. The dealer, Yves Bouvier, was not a defendant in the case and expressed feeling vindicated after the verdict. Rybolovlev's interest in art was described as having begun almost accidentally, stemming from a need to fill empty walls.

legalart-market1 year ago

Russian billionaire's art fraud lawsuit against Sotheby's dismissed

Russian billionaire Dmitry Rybolovlev loses his case against Sotheby’s, alleging the auction house helped a Swiss art dealer cheat him out of over $160 million by imposing huge markups on artworks. The jury's decision is seen as a vindication for Sotheby’s, which maintained it knew nothing of any misconduct. Rybolovlev's lawyer called for reforms in the art market, emphasizing the lack of transparency. The case centered on allegations of fraud involving several artworks, including da Vinci’s “Salvator Mundi,” which Rybolovlev sold for a historic $450 million in 2017.

legal-art1 year ago

Russian Billionaire's Lawsuit Against Sotheby's for Art Fraud Ends in Defeat

Russian billionaire Dmitry Rybolovlev has lost a case against Sotheby’s, accusing the auction house of defrauding him in art sales, including the purchase of Salvator Mundi attributed to Leonardo da Vinci. The jury ruled in favor of Sotheby’s, stating that it adhered to legal requirements and industry best practices. The case shed light on the lack of transparency in the art market, and although Rybolovlev was allowed to sue over Salvator Mundi, the verdict reflected a lack of evidence of cheating by Sotheby’s.

legal-art-market1 year ago

"Russian Billionaire's Art Fraud Suit Against Sotheby's Dismissed"

Russian billionaire Dmitry Rybolovlev lost a legal battle against Sotheby's, alleging that the auction house helped a Swiss art dealer cheat him out of over $160 million by imposing huge markups on works he acquired, including the famous painting "the lost Leonardo." The jury sided with Sotheby's, which maintained it knew nothing of any misconduct and emphasized its commitment to integrity and professionalism in the art market. Rybolovlev's lawyer called for reforms in the art market, while Sotheby's lawyer argued that the businessman didn't take enough steps to guard against being conned.

legalart1 year ago

"Sotheby's Victorious as Russian Billionaire Loses Art Fraud Lawsuit"

Sotheby's wins a federal jury trial against Russian billionaire Dmitry Rybolovlev, who accused the auction house of defrauding him in art sales totaling tens of millions of dollars. The case centered around the purchase of several artworks, including the famous "Salvator Mundi" attributed to Leonardo da Vinci. Sotheby's maintained it had no knowledge of any wrongdoing and was not liable for the actions of the Swiss art dealer involved. The case shed light on the lack of transparency in the art market, and the jury's verdict reaffirmed Sotheby's commitment to integrity and professionalism.

legal-art-market1 year ago

Russian Oligarch's Art Fraud Suit Against Sotheby's Ends in Defeat

Russian billionaire Dmitry Rybolovlev lost a lawsuit against Sotheby's, accusing the auction house of helping an art buyer defraud him by overpaying for art. The jury found for Sotheby's on all counts, relating to over $100 million in art purchases. The case involved art buyer Yves Bouvier, who allegedly inflated prices, with Sotheby's allegedly helping justify the fraudulent prices. Sotheby's denied any knowledge or participation in misconduct. Rybolovlev settled claims against Bouvier, and his lawyer highlighted the need for art market reforms.

art-and-legal1 year ago

"Rybolovlev vs. Sotheby's: Art Fraud Trial Concludes with Jury Deliberation"

Lawyers for Dmitry Rybolovlev’s Accent Delight International and Sotheby’s made closing statements in a decade-long legal feud over alleged overcharging by Swiss art dealer Yves Bouvier. The case could impact art business practices. The jury must decide if Sotheby’s aided Bouvier in defrauding Rybolovlev. Plaintiffs argue Sotheby’s fostered a culture of greed, while the defense contends Rybolovlev was defrauded solely by Bouvier. Deliberation begins Tuesday.

legal-art2 years ago

"Art Fraud Trial: Russian Billionaire Testifies and Sotheby's Responds"

Russian billionaire Dmitry Rybolovlev testified in the ongoing trial against Sotheby's, alleging that the auction house colluded with Swiss art dealer Yves Bouvier to overcharge him by $1 billion for artworks. Rybolovlev grew suspicious after learning of discrepancies in reported prices for artworks he had purchased, leading to doubts about the transparency of the art market. Sotheby's attorney emphasized Rybolovlev's role in the purchases and suggested that he was ultimately responsible for the transactions.

legalcourt-case2 years ago

"Sotheby's Accused of Art Fraud by Russian Billionaire"

An aide to Russian billionaire Dmitry Rybolovlev testified in a Manhattan court that a Sotheby's expert's opinions were used to persuade them to overpay for art, as part of a case against Sotheby's for allegedly helping a Swiss art dealer defraud Rybolovlev. The dealer, Yves Bouvier, denies any wrongdoing and claims he operated as an independent dealer. Sotheby's maintains it was not aware of any fraud and that Rybolovlev should have taken reasonable measures to protect himself. The trial is shedding light on the secretive art trade and is expected to last about six weeks.

legalart2 years ago

Russian Billionaire's Legal Battle with Sotheby's Over Art Loss

Russian billionaire Dmitry Rybolovlev accuses Sotheby's of participating in an elaborate fraud that led to him losing tens of millions of dollars on art purchases, including works by Picasso and da Vinci. Sotheby's denies any knowledge or participation in the alleged misconduct, while Rybolovlev's lawyer claims that a trusted art broker, Yves Bouvier, secretly marked up prices and pocketed millions. The trial sheds light on high-stakes art transactions and their significance to auction houses, with Rybolovlev expected to testify.

legalfinancial2 years ago

Russian Billionaire's Legal Battle with Sotheby's Over Art Sales Sparks New York Court Drama

Sotheby's is being accused by Russian billionaire Dmitry Rybolovlev of participating in an elaborate fraud that resulted in him losing tens of millions of dollars on art purchases, including works by Picasso and da Vinci. Sotheby's denies any knowledge of wrongdoing and insists that Rybolovlev failed to protect himself from a broker who cheated him. The trial is expected to shed light on high-stakes art transactions and their significance to auction houses, with Rybolovlev set to testify. The case revolves around art purchases made through Rybolovlev's companies, with his lawyer alleging that an art broker, Yves Bouvier, engaged in secret markups and defrauded him.

legal-art2 years ago

Russian Oligarch Dmitry Rybolovlev's Legal Battle with Sotheby's Over Art Sales

Russian oligarch Dmitry Rybolovlev is suing Sotheby’s, alleging that the auction house aided art dealer Yves Bouvier in overcharging him by $1 billion for 38 works of art. The case centers on Bouvier's dual role as both adviser and dealer, with Sotheby’s accused of inflating valuations to disguise Bouvier’s inflated prices. The artworks in question include pieces by Amedeo Modigliani, René Magritte, Gustav Klimt, and Leonardo da Vinci. The trial has the potential to shed light on questionable practices in the art market.