Sotheby's Helped Art Dealer Overcharge $1B, Tycoon Says
Law360 (October 2, 2018, 7:56 PM EDT) -- Family trusts for Russian tycoon Dmitry Rybolovlev sued Sotheby's for more than $380 million in New York federal court Tuesday, alleging that it helped an art dealer overcharge for 38 masterworks, the latest prong in the billionaire's global battle to hold the auction house accountable for "the largest art fraud in history."
British Virgin Island trusts Accent Delight International Ltd. and Xitrans Finance Ltd. filed a 25-page complaint accusing the international auction house of helping broker inflated deals for artworks at the behest of Swiss art dealer Yves Bouvier.
The trusts said Bouvier worked as their agent negotiating prices for the artworks, and...
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