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.