The Russian Billionaire Who Bought Sandy Weill's $88 Million Penthouse Was Just Sued By His Estranged Wife

Business Insider

The estranged wife of Russian billionaire Dmitry Rybolovlev filed suit today over a New York City penthouse apartment Ryoblovlev bought for $88 million through a limited liability company earlier this year.

Filed by Elena Rybolovleva in the New York State Supreme Court, the suit claims Rybolovlev did so in order to hide assets acquired during their marriage, which ended several years ago.

The suit says Rybolovlev, who shook New York's real estate scene when he picked up the apartment from Sandy Weill, ostensibly for a daughter who was attending school in New York City, violated a freeze order mandated by the Swiss court overseeing their divorce proceedings when he purchased the property.

In the suit, Rybolovleva also says that their daughter does not actually attend school in New York.

She calls his LLC, known as "Property NY 100-11 LLC," a "sham entity" with "no legitimate business purpose," and asks the court to enforce the freeze order of the Swiss court, as well as a issue permanent injunction. The suit was filed on her behalf by law firm Day Pitney LLP.

According to the suit, Rybolovleva initiated divorce proceedings against Rybolovlev in Switzerland in 2008. At the time, his main assets were stakes in two major Russian companies, which were later subject to the Swiss court's freeze order.

But, according to the suit, Rybolovlev violated that order by liquidating those assets, and using a portion of the several billion dollars in proceeds to buy the penthouse.

The suit also claims that in 2010, Rybolovlev bought a 9.7 percent stake in Bank of Cyprus for $295 million, also in violation of the freeze order.

The suit is similar to another one Rybolovleva filed in West Palm Beach in 2008 over a $95 million property Rybolovlev purchased from Donald Trump, also through an LLC.

Ryoblovlev is ranked #100 on the Forbes Billionaires List, with an estimated net worth of around $9 billion.

Click here to read about the wild life of Dmitry Rybolovlev >

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