French authorities seized Roman Abramovich’s impressive villa in the south of France that once belonged to the Duke and Duchess of Windsor, as part of a crackdown on Russian oligarchs amid the invasion of Ukraine.
Château de la Croë is located in one of the most prestigious parts of the French Riviera, the Cap d’Antibes, and local real estate agents estimate it to be worth around $118 million.
Built in 1926, The elegant villa comes complete with more than a dozen bedrooms, eight bathrooms, and sits on 12 acres of lush woodland and lush gardens just meters from the Mediterranean Sea.
Abramovich spent an estimated $40 million restoring the Château after he bought it in 2001, building a 50-foot swimming pool on the roof and inserting a huge gym and home theater in the basement to create the ultimate children’s playground. billionaires.
But before one of Putin’s favorite tycoons moved on, the incredible property was used as a vacation home by former King of England Edward VIII and American socialite Wallis Simpson, better known as the Duke and Duchess of Windsor.
The Duke and Duchess of Windsor became owners of the Château de la Croë in 1938 after King Edward VIII abdicated the throne.
The villa became one of the couple’s favorite retreats and was also used on several occasions to host highly esteemed guests.
Winston Churchill, the famous Prime Minister who successfully led Great Britain to victory in World War II, he celebrated his 40th wedding anniversary to the Duke and Duchess at the villa in 1948 before the castle was sold two years later.
The seizure of the villa by the French authorities came as part of a huge operation in which More than $27 billion in cash, property and other assets belonging to Russian oligarchs have been seized or frozen in recent weeksconfirmed today the Ministry of Economy and Finance of France.
A ministry source said the villa was among 12 properties belonging to the former owner of Chelsea Football Club that were seized, most of which were purchased through specially created French companies.
“The assets seized include houses, superyachts and helicopters, and add up to more than 25 billion euros”said the source.
Freezing real estate assets means they cannot be sold or used for rental income, the source explained.
“There are 33 properties that have been frozen, including a dozen belonging to Roman Abramovich. It’s all part of the sanctions program being applied against the Russian Federation in response to its invasion of Ukraine.” he added.
Figures also include the equivalent of about $25 billion in cash blocked in the French accounts of the Russian Central Bank.
Abramovich’s sprawling estate on the Caribbean island of St Barts, an island partially governed by France as an overseas territory, is also among the assets seized.
Properties have also been acquired in the Meribel alpine ski resort, as well as in other world-famous Riviera resorts such as Saint-Tropez and Cannes.
France’s finance ministry has formed a task force made up of tax inspectors and customs officials to identify and seize goods owned by Russians on an EU sanctions list.
The operation came as France also expelled six suspected Russian spies. “operating under diplomatic cover.”
A Foreign Ministry spokesman said the men and woman had been sent back to Moscow after a lengthy investigation by the DGSI internal security agency.
His research discovered “a secret operation carried out by the Russian intelligence services on French soil”, the source said.
There was no immediate comment from Abramovich, 55, who has also had assets frozen by the British government, including Chelsea Football Club.
The close ally of Russian President Vladimir Putin is believed to be currently in Moscow.
While Abramovich watches his assets be seized, several would-be billionaire buyers vie for ownership of his beloved Chelsea.
Four known offers to buy Chelsea are still being considered, which could be sold for around $4 billion given the interest that has surged since Abramovich put the London Premier League club up for sale.
The British government must sign off on the sale, which is being overseen by New York-based merchant bank Raine Group, under terms that allow the team to continue operating since Abramovich was suspended.
But Abramovich cannot benefit from any of the proceeds from the sale.
“Our role is to consider an application for a modified license authorizing the sale of the club when it is submitted to a preferred bidder.”the British government said in a statement.
Chelsea have won 21 trophies in Abramovich’s 19 years of ownership, banking on his generous investment to become one of the most successful clubs in Europe.
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Source-www.infobae.com