RUSSIA:The French party season may be over for Russia's new rich after the arrest of the country's most eligible bachelor billionaire on the French ski slopes.
Reports about the arrest of Mikhail Prokhorov in connection with an alleged prostitution ring have caused a stir in Russia, where he is frequently in the gossip columns because of his fast living, lavish parties and €4 billion fortune.
Now he's in a prison cell in Lyons, awaiting the verdict of the local prosecutor over whether there will be charges. Along with 26 others, Mr Prokhorov was arrested at a hotel in the upmarket ski resort of Courchevel, after a six-month investigation.
Local police claim a high-class prostitution ring was operating, with Russian escorts flown into the resort and paid with wealthy gifts for their services. There were suggestions yesterday that the huge influx of Russians into the resort may come to an abrupt halt. More than 10,000 are enjoying the Orthodox Christmas break there at present.
Mr Prokhorov is well known for his business and sporting interests in Russia, where he's a large shareholder in Polyus Gold, the world's biggest gold mine, and in Norilsk Nickel, the largest nickel producer. He's listed as the eighth richest man in Russia and the 89th in the world. He is also owner of one of Europe's top basketball clubs, Moscow-based CSKA.
Other members of the oligarch club will be relieved they're not in the spotlight, one businessmen predicted in Moscow yesterday.
"Many of these really rich men, whether they are married or not, take large groups on holidays to France travelling on a private jet, accompanied by young female 'students'," he said. "It was just a matter of time before one of them got into trouble with the law."
There was already a warning from France that it would not tolerate excessive behaviour from Russians following another incident just over a month ago.
Now recovering in a Belgian hospital, another billionaire, Suleyman Kerimov, crashed his new Ferrari just minutes after picking it up. He was lucky to escape alive, although the car was destroyed. His Russian companion walked away with no more than minor injuries.
The incident triggered uproar in France, where there were demands that the wild behaviour of the visiting Russians be curbed.
With the Russian economy booming, the country's small clique of super-wealthy are flourishing and looking for new ways to spend their fortunes. In a separate show of excess, another billionaire, Vladimir Potanin, paid pop singer George Michael more than €2.5 million to sing at a private New Year party in Moscow.