Businessman held for 'defrauding' billionaire AS Monaco owner

Three Swiss people have been detained in Monaco on suspicion of defrauding Russian oligarch and football club owner Dmitry Rybolovlev.

Monaco: Three Swiss people have been detained in Monaco on suspicion of defrauding Russian oligarch and football club owner Dmitry Rybolovlev.

Prominent art businessman Yves Bouvier and a couple living in the tiny principality had been taken into custody, local prosecutor Jean-Pierre Dreno said, without revealing the amount or the nature of the alleged fraud.

Bouvier is the head of Natural Le Coultre, a family business that stores, packs and ships works of art and other valuables.

Rybolovlev, meanwhile, moved to Monaco in 2011, where he bought a controlling stake in AS Monaco -- the ailing football club that had then been relegated to the second division, and which he whipped back into shape.

He is considered the world`s 160th wealthiest person according to Forbes, with a fortune estimated at $8.5 billion (7.6 billion euros).

He made headlines last year when a Swiss court awarded his ex-wife the equivalent of half of his fortune in their divorce.

The Russian oligarch has an estate in the southern French resort of Saint Tropez, owns the Greek island of Skorpios, which he bought from the Onassis dynasty, a villa in Miami that previously belonged to business magnate Donald Trump, and one in Hawaii that was purchased from Hollywood star Will Smith.

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