Billionaire Arnault Denies Money Laundering Allegations, Calls Them "Absurd" and "Senseless"

Billionaire Arnault Denies Money Laundering Allegations, Calls Them "Absurd" and "Senseless"

October 3, 2023 : Bernard Arnault, the chairman and CEO of LVMH Moët Hennessy Louis Vuitton SE and Europe’s richest man, has vehemently denied allegations that he was involved in a money laundering scheme involving Russian oligarch Nikolai Sarkisov.

The allegations, first reported by the French newspaper Le Monde, stem from financial transactions between Arnault and Sarkisov involving property in the exclusive ski resort of Courchevel, France. The French prosecutor’s office has confirmed that it is investigating the transactions, but neither man has been charged with wrongdoing.

In a statement, Arnault’s lawyer, Jacqueline Laffont, called the allegations “absurd” and “senseless.” She said the transactions were “perfectly known” and had been conducted “in accordance with the law and with legal support.”

Laffont also noted that the transactions were “carried out by French companies, through French notaries by French lawyers on all sides.” She said that the transactions were “a usual real estate deal.”

Arnault has also spoken out against the allegations, calling them “an attempt to smear my reputation.” He said that he is “confident that the truth will come out” and that he will be “fully exonerated.”
The allegations against Arnault are serious, but it is important to note that he has not been charged with any wrongdoing. The investigation is still ongoing, and the allegations may be proven false.

However, even if the allegations are not proven, the fact that they have been made against Arnault damages his reputation. Arnault is a powerful and influential figure, and any suggestion that he may have been involved in criminal activity will likely attract significant media attention.
It remains to be seen how the allegations will ultimately play out.

However, they have the potential to have a significant impact on Arnault’s personal and professional life.