Russian Billionaire’s Luxury Riviera Villa Continues to Feel the Freeze
- Owner fails to convince judges of urgent need to lift freeze
- Villa is situated in one of France’s most expensive locations
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Russian billionaire Alexander Ponomarenko’s lost his bid to lift the asset freeze of a villa he bought over a decade ago for €83.5 million ($88.9 million).
Ponomarenko’s lost lawsuit comes nearly 10 months after he became one of the first Russian tycoons owning luxury real estate in the South of France to be sanctioned following Vladimir Putin’s move to invade Ukraine.