ECBAWM clients, two trusts named Accent Delight International Ltd. and Xitrans Finance Ltd., filed a complaint in the Southern District of New York against Sotheby’s, one of the world’s largest and most famous auction houses. The Complaint alleges that Sotheby’s helped Yves Bouvier facilitate the largest art fraud in history. As detailed in the New Yorker, Bouvier is alleged to have defrauded the two plaintiff trusts of approximately $1 billion. The new suit alleges that Sotheby’s played a key role in aiding Mr. Bouvier’s scheme by providing valuations and other support for fraudulent transactions. ECBAWM attorneys Daniel J. Kornstein, O. Andrew F. Wilson, Zoe Salzman, and Doug Lieb represent the plaintiffs.

“Billionaire Rybolovlev Slaps Sotheby’s with $380 Million Lawsuit,” Bloomberg
“Russian billionaire claims Sotheby’s conned him out of $1B,” New York Post