French Billionaire Arnault and Russian Oligarch Investigated for Money Laundering
Originally Published 2 years ago — by FRANCE 24 English
French billionaire Bernard Arnault, CEO of LVMH luxury group, and Russian oligarch Nikolai Sarkisov are being investigated for alleged money laundering at the luxury Alpine resort of Courchevel. The investigation is being led by the French economy ministry's financial intelligence unit, but it has not yet determined if any crime has been committed. The probe focuses on complex real estate deals involving multiple companies and the suspected lending of 18.3 million euros by Arnault to Sarkisov. The investigation aims to uncover the exact origin of the funds and the ultimate beneficiary.