A Russian oligarch is suing his art dealer after he overpaid for a painting he anonymously bought from Steve Cohen
But now that buyer, Russian oligarch Dmitry Rybolovlev, is suing the art broker, Yves Bouvier, for fraud and money laundering because he unknowingly paid $22 million more than market value, Forbes reports.
Rybolovlev, who paid $118 million for the piece, reportedly found out about the price discrepancy from Steve Cohen's art advisor at a New Year's Eve party last year. The advisor had no idea that Rybolovlev, who was already having a pretty bad 2014 after settling a very public divorce battle for $4.5 billion, was the anonymous buyer.
The Russian billionaire then filed a suit in Monaco, and in February, helped police set up an ambush to arrest Bouvier. (Bouvier thought he was meeting Rybolovlev to discuss purchasing a Mark Rothko painting.)
In another incident, Bouvier allegedly flipped a Leonardo Da Vinci piece, purchasing it for $75-80 million and reselling it to Rybolovlev for $127.5 million.
Stay tuned for more juicy details as the scandal continues to unfold.
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