For years, the French tax authorities have been after the Wildenstein family for tax fraud.
In January of 2017, the court found evidence that Wildenstein tried to hide hundreds of millions of euros worth of art, real estate, racehorses, etc. However, … the judge said he could not return a guilty verdict due to failings by French investigators and shortcomings in the country’s tax fraud legislation. Guess they need to work on that.
A re-trail (in which prosecutors were looking for a fine of €250m and jail time) ended on June 29th. The judge ruled that Guy Wildenstein could not be charged because too much time had passed since the 2002 tax declaration following his father’s death. On the second inheritance in 2008, the judge found a lack of legal basis and evidence to support a prosecution.
I am sure that Mr. Wildenstein and other family members are now breathing a sigh of relief. Well, at least for the time being since prosecutors will now bring the matter to the Cour de Cassation (Court of Cassation), France’s court of last resort.