Roman Abramovich’s €108m French Riviera chateau seized

Image of an umbrella in the rain. Credit: Brian A Jackson/Shutterstock.com

Authorities seize Roman Abramovich’s €108m French Riviera chateau

French Finance Ministry officials in Paris confirmed yesterday, Wednesday, April 13, that they had seized a stunning villa on the French Riviera belonging to Russian billionaire, Roman Abramovich. ‘Chateau de la Croe’ is worth an estimated €108m (£90m), and is located in Cap d’Antibes.

The property was confiscated as part of the ongoing purge against oligarchs with ties to Vladimir Putin. A ministerial source confirmed, ‘There are 33 properties that have been frozen, including a dozen belonging to Abramovich’.

Adding, ‘They include homes, superyachts, and helicopters, and add up to well over €25billion (£20billion). It is all part of the programme of sanctions being brought against Russia in response to its invasion of Ukraine’.

Abramovich is believed to have spent around €36m (£30m) on restoration work in 2001 after the 55-year-old bought the lavish property. The secluded villa is hidden among 12 acres of woodland, and was once a holiday home used by the Duke and Duchess of Windsor.

After being involved in a poisoning scare following his role as a mediator in peace talks between Russia and Ukraine, Abramovich has rarely been seen out and about. He is thought to currently be in Moscow.

The billionaire also had assets frozen on Jersey, in the Channel Islands, worth an estimated €6.5bn (£5.4bn). As the tiny island falls under UK jurisdiction, police on Jersey searched the premises as they were thought to belong to Abramovich’s business empire.

A statement from the Jersey Law Officers’ Department said, ‘The Royal Court also imposed a formal freezing order on 12 April, known as a saisie judiciaire, over assets understood to be valued in excess of US$7bn which are suspected to be connected to Mr Abramovich, and which are either located in Jersey or owned by Jersey incorporated entities’, as reported by metro.co.uk.

___________________________________________________________

Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
Written by

Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

Comments


    Leave a comment

    Your email address will not be published.