French billionaire Bernard Arnault and Russian Oligarch Nikolai Sarkisov are under “preliminary investigation” for their alleged involvement in “transactions likely to constitute money-laundering offenses,” according to CNN.
The broadcaster reported that as the subject of a preliminary investigation, Arnault is not suspected and has not been accused of wrongdoing.
Bernard Jean Étienne Arnault is a French business magnate, investor, and art collector.
He is the founder, chairman, and CEO of LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury goods company.
According to the Telegraph, his huge financial clout has seen him brush shoulders with countless politicians, notably Donald Trump and Emmanuel Macron, who invited him to the banquet for King Charles and Queen Camilla last week at Versailles.
At a lavish state banquet, Charles issued a call for France and the UK to reinvigorate their relations, in comments echoed by French President Emmanuel Macron.