Suspecting the billionaire of importing artwork illegally, Swiss customs authorities opened an investigation in 2012. According to the papers, Schwarzenbach has agreed to pay back the 10 million francs, but is contesting the fine. But the painting reportedly reemerged in his luxurious Villa Meridiana in St. Moritz in the Swiss Alps, without him ever paying duties on it. On June 16, 2012 he is alleged to have presented Gottardo Segantini’s “Paysage alpin” to Swiss customs officials along with a receipt for just 10,000 francs. In all, the case concerns more than 200 works of art, with a combined value of at least 130 million francs, they said.

Source: Hindustan Times October 23, 2016 16:30 UTC