Tax
Leading Art Dealer Guy Wildenstein Cleared Of Tax Fraud
The Wildenstein family estate includes famous paintings, Caribbean properties, racehorses and a Kenyan ranch.
The head of an international art dealing dynasty, Guy
Wildenstein, has been cleared of concealing paintings and
properties from French tax authorities.
Wildenstein, along with seven other defendants, was accused of
trying to hide millions of euros in assets. The presiding judge
of a Paris court reportedly said there had been a “clear attempt”
at concealment. However, he acquitted them because of
shortcomings in both the investigation and French tax fraud
legislation.
In an interview three months ago, Wildenstein denied any
wrongdoing and said he hopes he would not be made into a
“scapegoat”.
The Wildenstein family estate includes famous paintings,
Caribbean properties, racehorses and a Kenyan ranch.
The level of secrecy around the family fortune was first
uncovered in the late 1990s during messy divorce proceedings
between Wildenstein's brother Alec and his then-wife, Jocelyn.
Ten years later in 2008, after Alec's death, Wildenstein declared
an inheritance of $61 million. However, repeated claims by
other women who had married into the wealthy family led
investigators to revisit the Wildenstein's financial situation in
2010.
