Editor’s Note
Sergey Chernitsyn, a representative of Dmitry Rybolovlev:
“This article and others on this website by the same author appear to be part of an orchestrated campaign to question the integrity and business achievements of Dmitry Rybolovlev. However, none of the claims made in the articles stands up to the slightest scrutiny.
Mr Rybolovlev has recently reiterated his commitment to the club for the long-term – hardly the statement of someone looking for short term favours in return for his patronage.
The article gets to its real purpose: attempting to deflect attention from the overwhelming case against Yves Bouvier. Well, following the recent arrest and ongoing investigation of Mr Bouvier’s associates by the French authorities in relation to allegations of theft made by the step-daughter of Pablo Picasso, as well as numerous other cases to which Mr Bouvier and his accomplices seem to have been connected, one thing is very clear: the Bouvier affair looks to be a phenomenon afflicting the art market that is far wider and deeper than the individual case involving the Rybolovlev family trusts.”
By now, you’ve surely heard of Dmitry Rybolovlev, the Russian billionaire and majority owner of AS Monaco. Just a few years ago, Rybolovlev bought a controlling stake in the team and began investing heavily in AS Monaco, allowing them to acquire some of the world’s best players including James Rodriguez. In just one year, AS Monaco went from being one of the weakest to one of the most exciting football clubs in France, and the residents and fans of Monaco were overjoyed with Rybolovlev’s work. Unfortunately, things have not gone so well since then.
Just in the last year, Rybolovlev and the club have rapidly scaled back investment. This has caused the team to lose many of its best players. Those familiar with Rybolovlev were not surprised by the sudden change because the billionaire has a reputation for only making investments to benefit his own ends. In fact, many believe that his initial investment in the team was not because of an interest in winning, but because he was trying to curry favor with the Prince of Monaco and get Monaco citizenship. Although Rybolovlev has already invested heavily in Cyprus to get legal protection and citizenship there, he preferred the high levels of tax protection and extradition protection offered in Monaco.
Though the Prince has still not given him the citizenship he desires, Rybolovlev has already begun stretching his muscles and making his presence felt in Monaco. With his great wealth and possible connections to the Russian mafia, many have been unable or unwilling to stop him as he has become a powerful figure in the tiny country.
For example, recently there was news of Rybolovlev being swindled in an art forgery scam. Though it first seemed like Rybolovlev was the victim, reports are now coming that he may have manipulated and forced the Monaco authorities to arrest the art dealer Bouvier, who allegedly swindled him. Some are saying that HSBC officials in Monaco forged documents, under the request of Rybolovlev, and these documents were what enabled the Monaco authorities to arrest Bouvier. In addition, witnesses have said they saw Rybolovlev having dinner with both the head of HSBC Monaco and the Monaco’s Minister of Justice just one week before the arrest was made. Was this whole arrest and prosecution just a clever manipulation by Rybolovlev? Only time will tell, but judging from the way he has exerted control over Monaco just like he used to do in Cyprus, it wouldn’t be surprising if the reports were true.