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CNBC Gets Hysterical About Bouvier Scandal

March 13, 2015 by Marion Maneker

CNBC on Contemporary Art

Based upon absolutely nothing more than breathless speculation, CNBC claims the Bouvier scandal could widen to include, “tax fraud, global money laundering and possible bribery.” It could. Then, again, it might not:

The Monaco attorney general’s office is staying largely quiet on the case after the initial arrest. But lawyers and art dealers familiar with the discussions say the case could expand well beyond Bouvier and reach into the top galleries and billionaire collectors in New York, London and Hong Kong. It could widen to involve not only undisclosed mark-ups by dealers, but also tax fraud, global money laundering and possible bribery.

“This is just the beginning,” said one prominent art lawyer in New York who asked not to be named. “There will be a lot of big dealers and collectors involved.”

Art scandal threatens to expose mass fraud in global art market (CNBC)

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