Similar Stories to Billionaire Loses $53 Million Deposit On Villa on Bing News

rcook@ajc.com, Atlanta Journal-Constitution: Local
Tue, 03/02/2010 - 7:43am

Russian billionaire Mikhail Prokhorov has to pay $53 million for a French villa he does not own. A court has ruled that Prokhorov must forfeit the 10 percent deposit he put down on a $527 million villa in southern France because he never completed the deal he made in July 2008 with the widow of banker Edmond Safra, according to BusinessWeek.com.

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