MOSCOW, August 8 (RAPSI) - Elena Rybolovleva has sued her estranged husband, Russian billionaire Dmitri Rybolovlev, in Hawaii over allegations that he had used a “sham” company to purchase a $20 million Kauai property in contravention of a freeze order issued by the Supreme Court of Switzerland, the Courthouse News Service reported Wednesday.
The complaint reportedly states that since the issuance by the Geneva court of a provisional freeze order, Rybolovlev has worked hard to escape the order’s impact.
The Courthouse News quoted Rybolovleva’s suit as having explained, "Defendant Rybolovlev is the 100th richest person in the world, with a net worth believed to be in excess of $9 billion according to the Forbes list of billionaires," adding, “Starting a few years before, and during the pendency of the divorce proceedings and this time in violation of the Swiss Court Order, defendant Rybolovlev used property acquired during the marriage to purchase a multitude of new assets, using for this purpose vehicles such as trusts and limited liability companies to place them beyond the reach of plaintiff.”
At issue in this case is a $20 million property allegedly purchased through what was referred to in the complaint as a “sham” company called Kapha North Shore LLC.
The complaint further reportedly added that the couple’s oldest daughter has been utilized as a straw man in Rybolovlev’s purchases: “Rather than purchase the property in his own name, defendant Rybolovlev used the couple's eldest daughter as straw person as another tactic to place assets beyond the reach of plaintiff."
Last year, Rybolovleva sued Rybolovlev over his $88 million purchase of a penthouse in New York City, maintaining that her husband had purchased the apartment through a shell company, despite the Geneva court’s imposition of a provisional freeze on his shares and assets pending the completion of divorce proceedings.
The case, Elena Rybolovleva V. Dmitri Rybolovlev, et al., is being heard by the Oahu First Circuit Court in Hawaii. According to court records, Rybolovleva is being represented by attorneys Jonathan Durrett and Adrian Rosehill. Attorneys for Rybolovlev had not yet been published on the court’s website at the time of publication.
According to a Forbes profile, which listed his net worth as of March 2013 at $9.1 billion, Rybolovlev amassed much of his fortune through his stake in Russian fertilizer producer Uralkali, which he sold in 2006 for $6.5 billion.