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Investigation reopens into Rybolovlev’s art fraud claims

by: Cassandra Tanti
31/07/2022

The long-running billion euro dispute between AS Monaco owner Dmitry Rybolovlev and Swiss art dealer Yves Bouvier has reignited, with Geneva’s criminal court of appeal overturning a dismissal of Rybolovlev’s complaints.

It’s a move that Rybolovlev’s lawyers believe will “swiftly establish the criminal responsibility of Yves Bouvier and his acolytes”, according to a statement obtained by Monaco Life.

The case, often dubbed the Bouvier Affair, has been played out in court rooms across the world, captivating the art community for seven years.

Rybolovlev, recognised as one of the world’s most prominent art collectors, is accusing his former agent Bouvier of having swindled €1.1 billion from him through the €2 billion sales of 38 works of art from 2003 to 2014. In 2017 and 2019, the Russian owner of AS Monaco football club filed two complaints in Geneva against Bouvier and his alleged accomplices Tania Rappo and Jean-Marc Peretti, for gang fraud and money laundering.

In September 2021, the case was dismissed by the district lead prosecutor, Yves Bertossa, who claimed that it was mostly based on evidence collected in a previous criminal procedure in Monaco, which was annulled in 2020 for being “partial and disloyal”.

The prosecutor also considered that the accusations of fraud against Yves Bouvier were “contradicted by many elements”.

But on 26th July, Geneva’s court of appeal ruled that the “possible existence of a deception cannot be denied”. It said that it was “surprising” that the prosecutor in Geneva had dismissed Rybolovlev’s criminal proceedings against Bouvier, Tania Rappo and Jean-Marc Peretti on the grounds of violations of the procedure in Monaco, as “nothing of the kind” had happened in Geneva, Bouvier’s home city.

The case has now been returned to the Public Prosecutor’s Office for further investigation.

According to The Art Newspaper, Bouvier has welcomed the decision of the court, “which will see the Geneva Prosecutor’s Office carry out an additional investigation to further demonstrate the hopelessness of Rybolovlev’s claims,” said his lawyer.

Rybolovlev has brought cases against Bouvier in Monaco, Singapore, the US and Switzerland.

“Yves Bouvier has chosen to plead via media, proclaiming an alternate reality and making egregiously erroneous statements about the case,” said Rybolovlev’s lawyers. “Our clients prefer to rely on the judicial system and salute the independence and the quality of the work of the Geneva judiciary. They have full confidence that the prompt demonstration of the criminal responsibility of Yves Bouvier and his accomplices will be made.”

 

Photo of Dmitry Ryboolovlev by Francknataf

 

 

 

Major breakthrough in Esplanade Les Pêcheurs real estate project

by: Cassandra Tanti
28/07/2022
esplanade des pecheurs

The National Council has passed a landmark law that allows the State to benefit more from private development in the Principality, while paving the way for the long-awaited new real estate project at the Esplanade Les Pêcheurs.

The controversy surrounding the Esplanade Les Pêcheurs site, which has been ongoing since September 2014, may finally be at end with Law 1057 passed by a majority of the National Council on Wednesday 27th July. The law decommissions the plot of land belonging to the State, allowing for the development project to begin.

The saga began when the State signed an agreement with SAMEGI, now the Caroli Group, and underwater archaeologist Franck Goddio. It then withdrew its bill to decommission the land a year later over concerns that the real estate project didn’t fit in with the needs for the organisation of the Monaco Grand Prix. After numerous court battles between the State and the promoter over the following years, the Supreme Court decreed in June 2020 that the State pay a sum in principal and interest equivalent today to 155 million euros.

Prince Albert then intervened and instructed his government to find a more amicable solution. Negotiations took place between all the interested parties, namely the State, the organising authorities of the automobile events, the promoter and Franck Goddio. A modified project was put forward, which included a premises for the State and a smaller private building than the one proposed.

But the sale of land in the public domain can only go ahead in law, voted upon by the National Council. On the same day the Prince announced the modified project, the National Council released a statement saying “it would ensure that the final agreement negotiated by the government is balanced and that the economy of the project is respectful of the interests of State.”

General Assembly Wednesday 27th July, photo courtesy National Council of Monaco

“As we have always said since the beginning of this mandate, this National Council will never vote for decommissioning without direct compensation for the housing of Monegasques and without additional areas for the benefit of the State,” said National Council President Stéphane Valeri during Wednesday’s session.

The project will therefore now include a State building of around 3,000sqm to be used for housing Monegasques. Additionally, the State will benefit from the donation of an entire floor of the private building, which is 1,870sqm in size.

In order to pass the law, the National Council also wanted to protect the financial interests of the State by setting a safeguard clause allowing excess profits made by the operation above those forecast to be redirected in part to the public finances.

“When we know that the sale prices of Monegasque real estate are constantly increasing and how high they are, this clause is the guarantee for the State to recover a significant part of the potential excess profits on this operation,” said Valeri.

“This progress marks a historic turning point in the way of apprehending the laws of decommissioning of the public domain for the benefit of a private actor, and therefore of defending the interests of the State and of Monegasques,” concluded the National Council President. “This new method had never been applied before tonight’s vote. It will henceforth be the rule for the future, for the Government as well as for the National Council.”

The real estate project, situated at the end of Port Hercule, will include a museum dedicated to marine archaeology called the Centre of Man and the Sea, premises for the Maritime Police and the port officials, shops on the quay level of the Esplanade, a state building facing Port Hercule with housing and shops, office spaces, a public garden, modular spaces for the Grand Prix, and a lift connecting the area with the gardens located on the upper part of the avenue de la Porte Neuve.

There will also be a 700m2 increase to the exterior space on the Esplanade to accommodate the installation needs of the television compound used during Grand Prix, bringing the total space available to the F1 event to 5,800 m2, which can also be used for other events.

 

By Cassandra Tanti and Stephanie Horsman. Photo of architectural design by Caroli Group. 

 

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Spain invites Prince Albert to travel back a million years in time

by: Cassandra Tanti
28/07/2022

Prince Albert II on Tuesday travelled to the archaeological site of the Sierra d’Atapuerca near the city of Burgos in Spain to discover the fossil remains of the first human beings to settle in Europe around a million years ago.

Accompanied by Monaco’s Ambassador to Spain Catherine Fautrier-Rousseau, the Prince donned an explorer’s outfit to examine the rich excavation sites.

The Archaeological Site of Atapuerca is located near the city of Burgos, in the Autonomous Community of Castilla y León, in the North of the Iberian Peninsula.

The property encompasses over 284 hectares and contains a rich fossil record of the earliest human beings in Europe, from nearly one million years ago and extending into the Common Era. It’s considered an exceptional scientific reserve that provides priceless information about the appearance and way of life of these remote human ancestors.

Prince Albert exploring the Archaeological Site of Atapuerca, photo credit: G. Luci / Prince’s Palace

Just this summer, a bone from the jaw of what could be the first European hominid aged around 1.4 million years was found during excavations.

Prince Albert began his visit at the site of El Portalón de Cueva Mayor, before heading to the site of Sima del Elefante and that of Cueva Fantasma. He then visited the Museum of Human Evolution (MEH) and the National Centre for Research on Human Evolution (CENIEH).

Photo credit: G. Luci / Prince’s Palace

Interview: Abdulla Al Gurg, founder of Omere Institute

by: Cassandra Tanti
28/07/2022

Inspired by personal experience, Abdulla Al Gurg created the Omere Foundation, a global platform for preventative medicine that brings together innovation, technology, and organic healing to transform the future of aging.

The World Health Organisation estimates that by 2030, poor mental health will become the second most important cause of disability in the world.

The Omere Foundation has two objectives: to improve physical, mental, and emotional health and thereby, longevity, and to influence health policy so health systems and resources shift towards innovation in life science, disease prevention and wellness.

Monaco Life: Where did the idea for the Omere Institute come from?

Abdulla Al Gurg: I went through a health condition around four years ago. I was going downhill and I was quite depressed, and I believe that it caused my stroke. That was the ignition to the whole thing. I was quite paralyzed and I wasn’t really feeling myself. I tried everything. I was in London on all sorts of medication and I said to myself, ‘This is just not working for me’. I was numb. I was literally numb from the amount of medication I was on.

Then I came across this group of specialists and technicians who have a medical background and who have evolved in the industry to want to bring an organic way of doing things, or an advanced way of doing things.

And things evolved from there.

Did you feel then that you had an obligation to share your knowledge and experience with the wider community?

Yes, I felt like there are so many other people like me who are undergoing a lot of medical interventions, who feel they need to change course at some point.

First, it was the health issue, but then I was rejuvenating and I was beginning to unlock my potential. I was starting to do more business, I was becoming more efficient than I was previously, thinking more clearly… and I thought, this is phenomenal.

It allows people who are in stressful situations to actually enjoy doing business or actually rejuvenate while they’re living their lives.

My chronological age is 42, but my biological age is now 36. I am therefore six years younger. I found this phenomenal as I used to be three years older than my age. So, I figured I had to share this.

Can you tell us how it works?

It is based on a science called elementology. What the technicians do is they connect your genes to the elements in your genetic code and they have a unique algorithm which helps them to understand how to treat you to unlock your gene potential.

I was borderline diabetic and I had eight active cancer markers. But if you test me today, I have only two active cancer markers and diabetes has gone away. That’s because I changed my behaviour and they taught me how to do that. They triggered things in me too, because everybody has a certain pattern and we come with a hereditary code. That’s it in a nutshell.

Who would be interested in this?

People who are currently sick and are looking to change that situation, or those who are not necessarily sick but who may have hereditary issues in their family that they would like to avoid. Also, people who want to rejuvenate. There are so many people investing money in a pill that will stop the aging process. This is a method. And i’m not the only case study. There are hundreds and hundreds of case studies and samples of reverse aging with this model.

If it is the “Fountain of Youth”, then you have the biggest game changer in history at your fingertips. Why is this not more widespread?

It takes a while to catch on. Do you remember when you bought the first iPhone or Mac computer? Or when you invested in the first Tesla car? How expensive it was? This is exactly at that point of launch and I believe this will be the future of health care.

It’s just a matter of time, and that’s why I was very interested in not only setting up the Omere Institute, but also the Omere charity foundation, which connects directly with the Institute to become the conduit for taking this to the critical mass and to spread the word so the people who will benefit can afford the service now.

Because if, for example, you have a child who has recovered from cancer through this method, you would want donate so other people can benefit also, right?

The Foundation is a conduit for us to bring it to the people.

Currently, this method is only available to high-net-worth individuals then?

Yes, because we can service between only 70 and 90 people per year. But of course, in the long term, as this foundation becomes more and more active, we can commercialise and train more technicians.

Photo provided

 

 

 

 

Countdown to AS Monaco’s curtain-raiser

by: Luke Entwistle
28/07/2022

The end of pre-season fixtures, a contract extension and a new kit release: it has been a busy week at AS Monaco with their season opener against PSV Eindhoven looming.

With under a week until their Champions League tie against PSV, Monaco travelled to the UK to face Premier League side Southampton. In an open, end-to-end and exciting match, Monaco took the lead through a ferocious Aleksandr Golovin strike.

Adam Armstrong levelled the score just after the break after Alexander Nübel could only parry Mohamed Elyounoussi’s initial effort. Stuart Armstrong revered the deficit with a smart finish on the swivel before James Ward-Prowse completed the scoring with a driven finish on the break.

However, despite the 3-1 defeat there were a plethora of positives. Takumi Minamino excited, Golovin looks to have refound his best form at the perfect time and after nine months on the treatment table, Krépin Diatta finally made his long-awaited return. His presence will feel like a new signing, and compliments an already stacked attacking force.

Prior to their trip to St. Mary’s, Monaco drew against Inter Milan before travelling back to Portugal for two games against FC Porto. The Principality side won the first match against Porto’s B team 2-0 thanks to a brace from debutant Breel Embolo. That match was a chance to give minutes to some of the most promising products in Monaco’s academy, with five featuring during the tie.

In the second match on Saturday, Monaco were dealt their first defeat of pre-season. Both sides had chances in the first-half, but two of the best fell to Monaco. Takumi Minamino almost got his first goal in Monégasque colours, but he was denied by a fine stop from the goalkeeper, before Wissam Ben Yedder was also smartly denied.

Porto took the lead from the spot mid-way through the second-half before they doubled their lead just minutes later. Ben Yedder halved the deficit in the dying stages with a well-converted penalty. However, Monaco couldn’t muster an equaliser and the game finished 2-1.

Away kit revealed

In that fixture, Monaco debuted their new away kit for the upcoming season. For their trips away from the Stade Louis II, they will wear a slick, simplistic black and white jersey. As with the home kit, Kappa’s design incorporates the club slogan “Rise, Risk, Repeat” into a modern design. The club’s main partner ‘eToro’ also features on the torso. The club’s crest is fixed in silicone on the heart side, as is the Monégasque crown, which is on the back collar.

Aguilar extends

Ruben Aguilar’s form at the back end of last season has earned the right-back a contract extension. He is now tied down with the Principality side until 2025.

Since his arrival from Montpellier in 2019, Aguilar has made 100 appearances for Monaco, including 39 in all competitions last season. He also featured in nine out of the last ten fixtures of the Ligue 1 campaign: a run of games that propelled them to the podium.

The winter arrival of Vanderson seemingly spelled trouble for Aguilar, but it would be Djibril Sidibé who would see his game time heavily limited. Upon the expiry of his contract this summer, Sidibé left, meaning that Aguilar will contend with Vanderson for a starting spot in Clement’s side next season.

In a press release from the club, sporting director Paul Mitchell said, “In addition to his footballing qualities, Ruben has been an important player who is unanimously appreciated by all the staff and playing squad. His fighting spirit, his ability to put himself at the service of the team and professionalism can be a source of inspiration for the younger players.”

After over two months of waiting, Monaco will finally return to competitive action on Tuesday as they face PSV Eindhoven at the Stade Louis II in the first-leg of their Champions League play-off.

Season ticket holders go free

AS Monaco announced on Wednesday that season ticket holders will be able to access Tuesday’s match against PSV Eindhoven as if it was a regular Ligue 1 match. Ordinarily, season tickets only apply to league matches, but for this season’s curtain-raiser, all season ticket holders will be able to access the Stade Louis II freely. More information on Monaco season tickets can be found here.

 

 

 

 

Artcurial’s Auction Week pulls in nearly €20 million

by: Stephanie Horsman
26/07/2022

Artcurial’s biggest event of the year in Monaco, Auction Week at the Hermitage Hotel, secured €20 million in sales of luxury items and art, marking a 32% rise on last year. Here are the items that fetched top price.

Artcurial closed Auction Week at the Hôtel Hermitage with a bang.

The sale, dedicated to jewellery, watches, Hermès and other branded luxury handbags, comic strips and art, drew a vast number of international collectors this year, exceeding expectations on all fronts. The addition of Monaco Sculptures and a selection of vintage comic strips offered an added bonus to Artcurial’s selection, giving buyers a chance to consider items they may not have thought of collecting before.

Running from 17th to 21st July, the auctions were preceded by an exhibition that was open to the public, giving all a chance to peruse what was going under the gavel.

Piaget reigned supreme in the watch sales with 15 lots on offer, including a rare malachite piece that sold for €111,900. An Audemars Piguet, the special edition of the Code 11.59 model, sold for an eye-watering €708,500.

The jewellery sale was marked by a real bidding battle for an extraordinary emerald-cut 17.50 carat diamond which went for €1,274,400.

Hermès, the legendary leather goods maker, was once again at the heart of this summer session with its iconic models in a huge variety of colours and materials.

Bernar Venet, Acier Corten

“I am happy to take up my duties during this new summer sales session, which is still a great success,” said Olga de Marzio, the newly appointed Director of Artcurial Monaco. “I experienced this week of vacations alongside the teams who, as always, worked to present the most beautiful pieces of jewellery, watches, Hermès and luxury bags, Monaco sculptures and comic strips. We are proud to close Artcurial’s semester of sales with a result of nearly €20 million.”

Artcurial hosts regular auctions throughout the year, featuring art, design pieces, wearable art, cars, books, and more.

Monaco Sculptures, the giant works of art that are dotted throughout the Principality thanks to a partnership with SBM for three years now, pulled in close to €6 million in sales with 80% of the lots sold. Bernar Venet obtained the highest bid of the evening with lot 801, 223.5°Arc14 at €524,800. Meanwhile, a world record was set for the comic strip La Tétralogie du Monstre, which achieved €82,800.

 

 

Top photo: An extraordinary emerald-cut 17.50 carat diamond went for €1,274,400