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The world’s second richest man, who heads up luxury goods giant LVMH Moët Hennessy Louis Vuitton, is reportedly being investigated over his dealings with a Russian oligarch.
The report first surfaced on Thursday in Le Monde newspaper that cited France’s financial intelligence unit, Tracfin, saying it was probing financial transactions between LVMH
MC,
CEO Bernard Arnault and Russian businessman Nikolai Sarkisov.
The Paris public prosecutors office reportedly confirmed Friday that it was it was looking into financial transactions between the two. MarketWatch has reached out to the Paris public prosecutor’s office and LVMH for comment.
The investigation hasn’t done anything to his wealth: LVMH shares rose 3% in Paris action.
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