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Legalart

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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.

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.