The Wall Street Journal is reporting that David Nahmad has claimed sole ownership of the Monet Nympheas from 1914-1917 that the US government is attempting to seize from Jho Low in the 1MDB action.
David Nahmad, a dealer based in Monte Carlo, said he is the true owner of Monet’s blue-green pond scene, not Mr. Low, according to an affidavit filed Wednesday in U.S. District Court in California.
Mr. Nahmad said in the affidavit that he won the Monet for about $13.6 million at a Sotheby’s London auction in February 2013. “My painting has been solely owned and possessed by me since its purchase up to the present time,” he said in the court document.He said he was keeping the painting in Switzerland.
Kelly Crow walks through the evidence the US presented of Low's ownership, including emails confirming payment from Low to Nahmad for $2.5m of a $22.5m purchase price.
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