Reported by Jane Dalton

Billionaire co-founder and chief executive of Louis Vuitton (LVMH), Bernand Arnault, is being investigated over his links to a Russian oligarch. 

Prosecutors in Paris are investigating financial transactions involving the French tycoon – the world’s second richest man – and businessman Nikolai Sarkisov.

The inquiry is centred on property purchases in Courchevel, a ski resort in the French Alps known for being a playground for the ultra-rich, the prosecutors said.

Mr Sarkisov acquired property there via a transaction in which Mr Arnault, through one of his companies, had provided a loan, according to French newspaper Le Monde, citing the Tracfin financial intelligence unit.

It said the 55-year-old Russian billionaire had acquired 14 housing units from a single seller in 2018 for €16m (£13.9m) in a complex deal involving companies based in France, Luxembourg and Cyprus.

Tracfin, part of the French justice system focused on combating money laundering, has yet to determine whether any crime had been committed, a source close to the investigation said.

Read full report: https://www.independent.co.uk/news/world/europe/billionaire-bernard-arnault-lvmh-russian-oligarch-money-b2421006.html