Swiss Authorities Dismiss Charges Against Dmitry Rybolovlev in Monaco Art Dealer Case

Russian billionaire Dmitry Rybolovlev has been exonerated by Switzerland's Office of the Attorney General concerning accusations linked to the Monaco arrest of art dealer Yves Bouvier. The Swiss authorities concluded their investigation, launched in 2017, affirming the absence of sufficient evidence to support the charges. This resolution marks a significant point in the longstanding legal dispute involving claims of fraud and contentious art dealings amounting to millions of dollars.

The contention between Rybolovlev and Bouvier initiated over allegations by Rybolovlev that Bouvier had excessively charged him approximately $1 billion for artworks by notable artists such as Leonardo da Vinci and René Magritte. Rybolovlev argued that Bouvier, in his role as a middleman for these art acquisitions, deceived him regarding the pricing, thereby securing hefty profits from inflated markups. Bouvier has consistently denied these allegations, asserting his independence as a dealer and adherence to customary industry practices.

This case in Switzerland was part of the broader "Monaco-gate" scandal, involving claims that Rybolovlev leveraged connections with high-level Monégasque officials to orchestrate Bouvier's arrest, leading to significant repercussions including official resignations within Monaco. Despite the closure of the Swiss case, the conflict between Rybolovlev and Bouvier persists, continuing to capture the attention of the international art market.