French authorities are investigating Russian billionaire Souleïman Kerimov over alleged money laundering and tax fraud linked to luxury villas on the Côte d’Azur.

The Paris prosecutor’s office confirmed a rare raid at the Ministry of Economy and Finance, aiming to uncover details of a fiscal arrangement involving over €38 million.

Kerimov, under EU sanctions since Russia’s invasion of Ukraine, is suspected of using proxies to hide ownership of the properties.

The investigation dates back to 2014, when suspicious cash movements and under-the-table payments for a villa purchase raised red flags.

Despite past legal challenges, the case has resurfaced, potentially exposing deeper ties between Kerimov and French tax authorities.