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Freeport king's assets unfrozen by court

Prominent Swiss businessman and art dealer Yves Bouvier, who is a Singapore permanent resident, is under investigation in Monaco for fraud and money laundering, appears at the Supreme Court on 6 Jul 2015.

The Court of Appeal has unfrozen the assets of a Swiss businessman and art dealer accused of fraud by a Russian billionaire over US$1 billion (S$1.4 billion) worth of alleged mark-ups on masterpieces by the likes of Picasso and Van Gogh.

In lifting the worldwide Mareva injunction against Singapore permanent resident Yves Bouvier, the court found there was no real risk of him dissipating his assets.

For more, read here.