Earlier this month we posted about the arrest of Yves Bouivier, the high-profile Swiss art broker who was indicted for fraud and money laundering. Recent reports now confirm that a court has ordered a freeze of all of Bouvier's assets and the handover of a 1951 Mark Rothko painting. In addition, Swiss police have conducted raids on two freeports owned by Bouvier.
The freeports have come under scrutiny by regulators in recent years. They are large, maximum security storage facilities that allow individuals to store expensive valuables while avoiding customs duty and sales tax.
Bouvier is currently being held on €10 million bail and denies all charges.
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