A Billionaire is suing his art dealer in Switzerland for allegedly marking up the prices of art and pocketing the extra

 July 10, 2018

“The collector says he was inspired to sue after discovering the ongoing legal dispute between Dmitry Rybolovlev and Yves Bouvier.” – reports artnet News. An unnamed Russian billionaire and his son have launched a lawsuit against their art dealer, who helped them build a collection worth an estimated CHF 600 million ($607 million). The family […]

John Olsen conviction overturned by appeal court

 July 08, 2018

The conviction of John Olsen the director of JP Construction for fraudulent bankruptcy, has been overturned on appeal. His legal team argued successfully before the Monaco Appeal Court on June 12, 2018, on the delay in informing Mr Olsen of the nature of the criminal complaint levied against him, and the wrongful assertion that Mr […]

The Woman Who Sold a Basquiat for a Cool $31 Million Is Now Suing Her Dad For Causing the ‘Disappointing’ Result

 June 08, 2018

“The seller thinks it should have sold for close to $100 million.” – reports artnet News One could be forgiven for failing to understand how the sale of a painting bought in 1983 for $15,000 and resold last month for $30.7 million, could ever be deemed “disappointing”. After all, the price increase represents more than […]

Celebrities May Be Sued For Promoting Fraud ICOs

 April 11, 2018

Champion boxer Floyd Mayweather and musician DJ Khaled might be in a deep legal trouble as celebrity endorsers of initial coin offerings and other cryptocurrency products could soon face legal action as regulators continue to crack down on fraud. That’s what securities attorneys warned amid the rash of SEC actions against scam ICOs. “They are […]

Vintage scam: 66 million bottles of French wine said to be fake

 April 03, 2018

“British consumers have been victims of one of France’s biggest wine frauds, according to investigators who believe that 66 million ordinary bottles were passed off as Châteauneuf-du-Pape or other Côtes du Rhônes.” – states The Times. Up to 15 per cent of the annual output of the Côtes du Rhône appellation from 2013 to 2016 […]

Psychiatrist accused of numerous cases of Fraudulent Billing

 March 19, 2018

Monaco’s leading Russian newspaper Hello Monaco published a reportage on the latest crimes in the Principality, titled as “The Wheels of Justice turn for offenses committed in Monaco“. A fascinating duel of defence and prosecuting attorneys took place on the appeal of a prior decision to take no action against the psychiatrist before the court. The […]

Prince Albert II of Monaco: Conmen use fake prince to extract money

 March 18, 2018

Conmen have been impersonating top personalities in Monaco, including Prince Albert II, to obtain money from high-profile victims, reports say. The scammers are said to have used online messaging platforms including WhatsApp to contact their targets. The government issued a statement confirming the stings, but did not specify the prince was impersonated. But a well-known […]

Christie’s Acquisition of an Art Startup Was Supposed to Change Everything. Instead, It’s Become a Big Headache.

 February 21, 2018

“Christie’s acquisition of the startup Collectrium has resulted in a pricey learning curve.” – Eileen Kinsella reports at artnet News. In early 2015, when Christie’s reportedly shelled out somewhere between $16 million and $25 million to acquire a tech startup called Collectrium, the platform was hailed as something of a godsend for the art collecting set. […]

Former Russian banker detained in Monaco over $8.8 million fraud

 January 19, 2018

The Russian Interior Ministry confirmed the detention. Former Investtorgbank management board chairman Vladimir Gudkov has been detained in Monaco on fraud charges, a law enforcement source told TASS. “Former Investtorgbank management board chairman and shareholder Vladimir Gudkov has been detained in Monaco,” the official said, specifying that the detainee is charged with large-scale fraud. The […]

Ice Cream Salesman Turned Art Dealer Swindled Elite Clients Out of Millions

 December 19, 2017

Ezra Chowaiki allegedly owes nearly $3 million to Sotheby’s alone. A New York art dealer is facing federal charges for allegedly defrauding elite clients out of millions of dollars. The US attorney has accused the dealer, Ezra Chowaiki, of wire fraud and the transport of stolen goods. According to court papers, the scheme began in 2015 […]

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