French billionaire Bernard Arnault is currently under investigation for possible money laundering in connection with his dealings with Russian businessman Nikolai Sarkisov. The investigation, led by the Paris public prosecutor's office, focuses on transactions related to properties in the exclusive ski resort of Courchevel, as reported by Le Monde newspaper.
According to sources, Sarkisov purchased several properties in Courchevel in 2018 through intermediary companies. However, it was later revealed that the ultimate buyer was none other than Bernard Arnault, the CEO of LVMH Moet Hennessy Louis Vuitton SE. It is alleged that Arnault paid Sarkisov approximately €20 million ($21.2 million) for ownership of these assets, while Sarkisov is said to have made a profit of around €2 million from the deals.
Investigators have raised concerns about the transactions, suspecting that they may have been aimed at concealing the origin of the funds and the ultimate buyer's identity. However, representatives for both Arnault and Sarkisov have refrained from commenting on the matter.
Le Monde's report also mentions that individuals close to Arnault have stated that these deals were carried out within the boundaries of the law. Nevertheless, the Paris prosecutors' office has not provided any details or comments regarding the specific allegations.
Nikolai Sarkisov, along with his brother, controls the RESO-Garantia insurance company, and his fortune was estimated by Forbes Russia in 2021 to be around $850 million. Sarkisov served as the Armenian consul to Lyon, a city located approximately two hours away from Courchevel, between 2014 and 2019, according to French documents and Forbes Russia.
The investigation into the potential money laundering involving Arnault and Sarkisov underscores the increasing scrutiny and investigations surrounding financial transactions and the origins of funds. As the case unfolds, further details regarding the allegations and any potential legal consequences for the parties involved are expected to emerge.