scorecard
  1. Home
  2. life
  3. A Russian oligarch is suing his art dealer after he overpaid for a painting he anonymously bought from Steve Cohen

A Russian oligarch is suing his art dealer after he overpaid for a painting he anonymously bought from Steve Cohen

Portia Crowe   

A Russian oligarch is suing his art dealer after he overpaid for a painting he anonymously bought from Steve Cohen
Thelife1 min read

dmitry rybolovlev

REUTERS/Olivier Anrigo

Dmitry Rybolovlev is outraged.

Last year, Steve Cohen made a great deal. He sold a nude painting by Amadeo Modigliani to an anonymous buyer for $93.5 million.

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.

Get the full story from Forbes>>

NOW WATCH: 11 Facts That Show How Different Russia Is From The Rest Of The World

READ MORE ARTICLES ON


Advertisement

Advertisement