Officials alleged that Arnault paid Sarkisov about €20 million to own the assets.
AdvertisementAdvertisementThe Paris public prosecutor's office said Friday that it is investigating billionaire LVMH CEO Bernard Arnault's dealings with Russian businessman Nikolai Sarkisov, according to multiple media reports.
French daily newspaper Le Monde reported that officials are looking specifically into real estate transactions between the two individuals in the ski resort of Courchevel.
In 2018, Le Monde said, Sarkisov purchased multiple properties in Courchevel using intermediary companies.
Investigators told Le Monde that the transactions look like they masked the origin of the funds, and who the ultimate buyer actually was.
Persons:
Bernard Arnault's, Nikolai Sarkisov, Arnault, —, Prosecutors, Le Monde, Sarkisov, Le, Le Monde's, Elon Musk, it's
Organizations:
Officials, Service, Le Monde, Bloomberg
Locations:
Russian, Courchevel, Paris