Billionaire LVMH CEO Bernard Arnault has hit back at allegations of money laundering, after the Paris prosecutor's office confirmed it is investigating financial transactions between Arnault and Russian oligarch Nikolai Sarkisov.
In a statement, Arnault's attorney, Jacqueline Laffont, said the allegations were "absurd and unfounded."
The investigation, seemingly under way, will demonstrate these facts," she said in an emailed statement over the weekend.
"Furthermore, who could seriously imagine that Bernard Arnault, who has developed over the past 40 years the leading French and European company, would pursue money laundering to expand a hotel?
I believe the senseless nature of these allegations will be recognized by all."
Persons:
Bernard Arnault, Nikolai Sarkisov, Jacqueline Laffont
Organizations:
Paris, Sarkisov
Locations:
Courchevel