French Prosecutor Probes Transactions Involving LVMH's Arnault, Russian Businessman

THE PARIS PUBLIC PROSECUTOR'S OFFICE CONFIRMED ON FRIDAY THAT IT IS INVESTIGATING FINANCIAL TRANSACTIONS INVOLVING LVMH OWNER BERNARD ARNAULT AND RUSSIAN BUSINESSMAN NIKOLAI SARKISOV.

IT CONFIRMED THE OPENING OF A PRELIMINARY INVESTIGATION, WHICH IN FRANCE DOES NOT NECESSARILY IMPLY WRONGDOING BY THOSE CONCERNED, FOR WHOM THE PRESUMPTION OF INNOCENCE APPLIES.

ARNAULT'S SPOKESPERSON DECLINED TO COMMENT. SARKISOV COULD NOT BE IMMEDIATELY REACHED FOR COMMENT.

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.

THE NEWSPAPER CITED A PERSON CLOSE TO ARNAULT AS SAYING THE TRANSACTION WAS CARRIED OUT IN FULL RESPECT OF FRENCH LAW.

THE PARIS PUBLIC PROSECUTOR'S OFFICE SAID IN AN EMAILED STATEMENT TO REUTERS THAT A PRELIMINARY INVESTIGATION HAD BEEN UNDERWAY SINCE 2022 AND CONFIRMED THAT TRANSACTIONS INVOLVING ARNAULT AND SARKISOV HAD BEEN ATTACHED TO THESE.