LVMH CEO Bernard Arnault Under Investigation in Paris Over Loan to Russian Oligarch

Bernard Arnault, CEO of LVMH, is under investigation in Paris over transactions with Russian oligarch Nikolai Sarkisov.
Sarkisov bought real estate in an Alpine resort using a loan from Arnault, per reports.
The Paris prosecutor has an ongoing preliminary investigation into potential money laundering.
Arnault lost a case in February over a tax fraud probe related to activities in Belgium.
Sarkisov's company says he has never met Arnault and this was a routine real estate transaction.

cnbc.com

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10/2/2023

LVMH's Arnault Denies Money Laundering Allegations Over Loan to Russian Oligarch

LVMH CEO Bernard Arnault denies allegations of money laundering in response to an investigation into financial transactions between him and Russian oligarch Nikolai Sarkisov.