Russian Oligarch Accuses Sotheby's of Art Fraud

Sotheby's Argues Lack of Due Diligence by Dmitry Rybolovlev in High-Stakes Art Purchases

Dmitry Rybolovlev, a Russian oligarch, is accusing Sotheby's of aiding in an art fraud scheme that led him to overspend on art pieces.
Sotheby's argues that Rybolovlev, a billionaire who earned his fortune in the potash industry, did not conduct proper due diligence before making his purchases.
The case could potentially bring more transparency to the art industry, shedding light on practices that are commonplace in high-end art sales.
Rybolovlev previously settled out of court with Swiss dealer Yves Bouvier, who he also accused of cheating him by inflating the sale prices of artworks.
The trial could have significant implications for the operations of auction houses, which rely heavily on their reputations.