RBC's Bahamas Unit Reeled into Probe of Art Dealer Wildenstein
- March 30, 2015 15:43
Allegations of tax evasion lodged against New York and Paris-based billionaire art dealer Guy Wildenstein have pulled in the Royal Bank of Canada's Bahamas subsidiary.
On Monday, a French prosecutor recommended to a judge that RBC Trust Company (Bahamas) Ltd. be charged with participating in tax fraud and money laundering activities involving Wildenstein and his associates. No charges have been filed.
Wildenstein faces allegations that he hid hundreds of millions of dollars inherited from his father's estate. His art-dealing father, Daniel Wildenstein, died in 2001.
A police raid in 2011 of the family's institute in Paris yielded 30 paintings listed as missing or stolen.
![Peter Paul Rubens (Flemish, 1577–1640), After Titian (Tiziano Vecelli) (Italian [Venetian], c. 1488–1576), Rape of Europa, 1628–29. Oil on canvas, 71 7/8 x 79 3/8 in.](/images/c/e2/2e/Jan20_Rape_of_Europa100x100_c.jpg "Peter Paul Rubens (Flemish, 1577–1640), After Titian (Tiziano Vecelli) (Italian [Venetian], c. 1488–1576), Rape of Europa, 1628–29. Oil on canvas, 71 7/8 x 79 3/8 in.")
