Freeport King Yves Bouvier Vows Revenge Against Russian Billionaire Dmitry Rybolovlev

Just over a week after a Singapore court lifted a freeze on his assets, Swiss freeport mogul Yves Bouvier gave a lengthy interview to Swiss newspaper 24 hours in which he promised to hit back at his former client Dmitry Rybolovlev, who accused Bouvier of swindling him on several pricey art transactions.

Art Market Monitor’s Marion Maneker distilled the lengthy interview—which he translated from French with the help of Google translate.

Bouvier told the paper that Rybolovlev and his lawyer, Tatiana Bersheda, destroyed his reputation and “deceived justice.” He vowed to destroy what he described as the only thing that affects Rybolovlev’s security in Monaco, which is his fortune.

Bouvier further states that Rybolovlev, through his words and actions, has already, in effect, “burned” his art collection and would not get even half of its value if he were to sell it now.

Dmitry Rybolvelv

Dmitry Rybolvelv.
Photo: Courtesy of AP Photo/Lionel Cironneau.

Bouvier also explained how he came to work with Rybolovlev about a decade ago, describing how the Russian billionaire “missed” the certificate of authenticity accompanying the  first canvas he acquired. “I offered to make them more square things by controlling the title and transfer of ownership, authenticity, transport, formalities,” Bouvier states.

Bouvier also told the paper that he never violated any confidentiality agreements.

Criminal complaints against Bouvier were first filed in January in Monaco. Rybolovlev alleged that Bouvier grossly overcharged him by misrepresenting the actual acquisition price of several major artworks. In March, Bouvier’s assets were frozen by a Singapore High Court. Arrested and subsequently indicted for fraud, Bouvier stepped down from his position as head of Luxembourg’s Le Freeport in April.

As artnet News’ Hili Perlson reported recently, on Friday, August 21, Singapore’s highest court lifted the worldwide Mareva order against Bouvier, who is a permanent resident of Singapore, on the grounds that there was no risk of him dissipating his assets.

The court also found an abuse of process in the injunction obtained against Bouvier by two companies linked to Rybolovlev.


Related stories:

Accused of Art Fraud, Yves Bouvier Steps Down From Le Freeport

Dealer Olivier Thomas Detained In France After Theft Accusations by Picasso Heir

Steve Cohen’s Modigliani and $75 Million Leonardo at Heart of Bouvier Case




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