United States:
Update: Indictment Of Freeport King Yves Bouvier
18 March 2015
Fox Rothschild LLP
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Earlier this month we
posted about the arrest of Yves Bouivier, the high-profile
Swiss art broker who was indicted for fraud and money laundering.
Recent reports now confirm that a court has
ordered a freeze of all of Bouvier's assets and the handover of
a 1951 Mark Rothko painting. In addition, Swiss police have
conducted raids on two freeports owned by Bouvier.
The freeports have come under scrutiny by
regulators in recent years. They are large, maximum security
storage facilities that allow individuals to store expensive
valuables while avoiding customs duty and sales tax.
Bouvier is currently being held on €10 million bail and
denies all charges.
The content of this article is intended to provide a general
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about your specific circumstances.
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