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https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

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The Inheritance Case That Could Unravel an Art Dynasty (archive.is)

submitted 1 year ago by [email protected] to c/world

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[–] marron12 10 points 1 year ago

Now, more than a decade after Sylvia’s death, their efforts have landed the Wildensteins before France’s highest court. The evidence she and Dumont Beghi brought forth has persuaded prosecutors that the Wildensteins are a criminal enterprise, responsible for operating, as a prosecutor for the state once put it, “the longest and the most sophisticated tax fraud” in modern French history.

A trial this September will determine if the family and their associates owe a gargantuan tax bill. The last time prosecutors went after the Wildensteins, several years ago, they sought €866 million — €616 million in back taxes and a €250 million fine, as well as jail time for Guy. The consequences could do more than topple the family’s art empire. The case has provided an unusual view of how the ultrawealthy use the art market to evade taxes, and sometimes worse. Agents raiding Wildenstein vaults have turned up artworks long reported as missing, which fueled speculation that the family may have owned Nazi-looted or otherwise stolen art, and spurred a number of other lawsuits against the family in recent years. Financial distortions have saved the family hundreds of millions of dollars, prosecutors allege, but their treatment of Sylvia could cost them far more — and perhaps lead to the unraveling of their dynasty.

What a story. It's a long read, but fascinating.