Sanctioned Billionaire Grandson’s Monaco Flat Sparks Probe (1)

Monaco is investigating a €9.4 million ($11 million) deal by the grandson of billionaire Viktor Rashnikov to buy a luxury apartment in the weeks after the Russian steel tycoon was sanctioned over the invasion of Ukraine.

Authorities in the principality are examining whether the deal was used to launder money over doubts about the origin of the funds, Monaco prosecutor Stéphane Thibault said in an interview. The previously-unreported criminal case began in 2022 and prosecutors then passed it on last year to investigative judges with wider powers, Thibault said.

Billionaire Viktor Rashnikov

Source: Getty Images

The investigation came to light following a review by Bloomberg ...