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Billionaire Bernard Arnault hits back at 'absurd' and 'senseless' money laundering allegations - TL;DR CNBC

Billionaire Bernard Arnault hits back at 'absurd' and 'senseless' money laundering allegations

Publishing timestamp: 2023-10-02 12:04:51


Summary

The Paris prosecutor's office is investigating financial transactions between LVMH CEO Bernard Arnault and Russian oligarch Nikolai Sarkisov for potential money laundering. Both Arnault and Sarkisov have denied any wrongdoing, and the preliminary investigation does not suggest that a crime has been committed. The investigation is focused on a real estate purchase by Sarkisov in the French ski resort of Courchevel, which allegedly involved a loan from one of Arnault's companies. Both parties claim that the transaction was conducted legally and in accordance with French law.


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Keywords: luxurybusiness newsfranceinvestment strategybreaking news: investingretail industrylvmh moet hennessy louis vuitton seapparel retailbreaking news: business

Source: https://www.cnbc.com/2023/10/02/billionaire-bernard-arnault-hits-back-at-absurd-and-senseless-money-laundering-allegations.html


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