Billionaire Rybolovlev files $380-million lawsuit against Sotheby’s

Billionaire Rybolovlev files $380-million lawsuit against Sotheby’s
Dmitry Rybolovlev

Sothebyʼs called the Rybolovlev’s claim “desperate.”

The former owner of Uralkali, Dmitry Rybolovlev, filed a lawsuit with the New York court against the Sothebyʼs auction house, alleging that the auction house "materially assisted the largest art fraud in history," Bloomberg reports.

Rybolovlev has been pursuing Yves Bouvier around the globe for several years, claiming the art dealer owes him more than $1 billion. Rybolovlev accused Bouvier of overcharging him on 38 artworks that he purchased for $2 billion over more than a decade. Rybolovlev offered Sothebyʼs to pay damages of 380 million dollars, as it participated in the sale and knew the real cost of the works. The representative of the businessman confirmed to TASS that the companies of the family trust filed a lawsuit against Sothebyʼs.

“Mr. Rybolovlev’s latest desperate lawsuit is entirely without merit," Sotheby’s said in a statement.

Dmitry Rybolovlev accused art dealer Yves Bouvier of fraud in April 2015. The billionaire said that Bouvier, molding the collection, deliberately overpriced to misappropriate part of the funds. Bouvier rejected all charges, saying that he reconciled all prices with Rybolovlev.

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