A multi-generational inheritance squabble in one of the world’s foremost art-dealing dynasties with a penchant for thoroughbred racehorses will be played out in a Paris court from today.
In a case worthy of a soap opera, the spotlight will be thrown on the activities of New-York based Wildenstein and Company when several family members go on trial on charges of tax fraud and money laundering.
Franco-American Guy Wildenstein, 70, and his entourage are at the heart of the investigation and could face up to 10 years in jail in a saga which has gripped high-society watchers.
The case follows an investigation into years of alleged attempts by the dynasty to place assets beyond the reach of the taxman.
Wildenstein, a silver-haired art dealer who owns and breeds race horses, was in 2009 awarded France’s highest award by then-president Nicolas Sarkozy.
But a year later, French investigators began looking into his affairs following accusations he concealed much of his inherited fortune from the taxman and from his heirs via a web of opaque trusts and tax havens.