THE WHAT? French prosecutors are currently investigating a transaction between Bernard Arnault, the CEO of LVMH, and a Russian businessman over suspicions of possible money laundering. The investigation was prompted by a warning from France’s anti-money-laundering unit, Tracfin.
THE DETAILS The probe, in motion since 2022, has led to limited public information, with the Paris prosecutor’s office refraining from additional comments. In response to the allegations, Arnault’s lawyer has labelled them as baseless, with Arnault himself prepared to answer any related questions.
THE WHY? The investigation highlights ongoing efforts to address potential financial wrongdoing in international business dealings. The results of the preliminary investigation will dictate whether French authorities will proceed with a formal investigation or dismiss the case entirely.