The billion-dollar corruption case that shook the art world… The dynasty may collapse

The Wildenstein family, described as “the greatest art dynasty” in the world, is in danger of losing its fortune due to the corruption case filed.

The tax evasion case brought against French businessman Guy Wildenstein, owner of a huge fortune with world-famous works of art that his family has collected for more than 100 years, had a huge impact around the world. The Wildenstein family, which has works by famous artists in its collection, began a trial this week on charges of art fraud and tax evasion worth $1 billion.

Guy Wildenstein, 77, is accused of money laundering and tax evasion in a case that could lead to the collapse of the Wildenstein dynasty, which has had a significant influence on the art market since the emergence of the Impressionist artists. Prosecutors describe the accusations as “the longest and most complex tax fraud in French history.”

The heirs also include the children of Guy’s late brother, Alec Wildenstein.

The famous businessman, who denies the accusations, could not only lose his fortune but also go to prison if he is found guilty in the case that is expected to conclude next month.

The family, which grew rapidly after Wildenstein’s grandfather Nathan, a Jewish tailor, began becoming an art collector in the 1870s, had faced similar accusations before.

‘THEY SAVE THE MOST FAMOUS WORKS OF ART IN THE WORLD IN THEIR SHELTERS’

Wildenstein’s father, Daniel’s ex-wife Sylvia, filed a lawsuit against the family, claiming she was deceived by Guy Wildenstein and his brother Alec and lost her husband’s inheritance. Claude Dumont Beghi, lawyer for Sylvia, who later died, said: “This case is about a family of four generations who lived in great secrecy and disposed of their assets in a way that did not pay taxes. They control everything. “There is no place for women in this empire controlled by men,” he said.

The Wildenstein dynasty, which is also close to the British royal family, has a huge art collection consisting of masterpieces by Caravaggio, Picasso, Monet and Rembrandt.

The family supposedly hides these works in nuclear shelters and ports to evade taxes. Some of the works are exhibited in the main museums of the world.