Paris prosecutor's office: investigating Bernard Arnault and a Russian oligarch for alleged money laundering

The Paris public prosecutor's office is investigating financial transactions involving French billionaire and LVMH owner Bernard Arnault and Russian businessman Nikolai Sarkisov, the proseuctor's office confirmed on Friday. French daily Le Monde, citing the Tracfin financial intelligence unit, reported on Thursday that Sarkisov had acquired real estate at a luxury Alpine resort via a transaction in which Arnault, through one of his companies, had provided a loan. Arnault's spokesperson declined to comment.

The Paris public prosecutor's office is investigating financial transactions involving French billionaire and LVMH owner Bernard Arnault and Russian businessman Nikolai Sarkisov, the proseuctor's office confirmed on Friday. French daily Le Monde, citing the Tracfin financial intelligence unit, reported on Thursday that Sarkisov had acquired real estate at a luxury Alpine resort via a transaction in which Arnault, through one of his companies, had provided a loan.

Arnault's spokesperson declined to comment. Sarkisov's RESO-Garantia insurance company in Moscow could not be immediately reached for comment. Le Monde had cited a person close to Arnault as saying the transaction had been carried out in full respect of French law.