Art Dealer Wildenstein Accused of Huge French Tax Fraud
International art dealer Guy Wildenstein is going on trial in Paris on charges of defrauding the French state of half a billion euros (about $550 million) in taxes, after two relatives tipped off authorities about the family’s financial dealings.
Wildenstein, 70, Franco-American heir of a New York art-dealing empire, is to appear in court on Monday, accused of concealing much of his inherited fortune in trusts held in offshore tax heavens.
He faces up to 10 years in prison if convicted of tax fraud and money laundering. He told French magazine Paris Match that he knew his father had used trusts but he didn’t know the details.
Two relatives and three lawyers are also on trial in the case, one of the biggest tax fraud trials ever held in France.
