27 February 2014 19:10

Elena Rybolovleva, the estranged wife of Russian billionaire Dmitry Rybolovlev, arrested in Cyprus over the alleged theft of a €30 million diamond ring and later released, has produced all the necessary documents to prove ownership of the jewellery, her lawyers said on Wednesday.
Rybolovleva was detained by police upon her arrival to Cyprus on Monday following a complaint by the international Domus Trust regarding the theft of trust property - a rare item of an extremely high value.
Rybolovlev was questioned by Limassol CID after arriving on a private jet from Switzerland and later released without charge.
The law firm, Pelaghias Christodoulou Vrachas LLC said its client's arrest is the latest attempt by her husband to pressure her to relinquish her legal rights in their bitter divorce proceedings pending before Swiss courts.
"The ring was given to Elena by her husband in March 2008. It was a gift and made to fit her finger and therefore could not have been stolen."
The law firm added that the Domus Trust had failed to provide any explanation to its alleged right to the ring.
The trust is one of many Dmitry Rybolovlev set up around the world to safeguard his assets. His lawyers claimed the ring belonged to the ex-couple's daughter and filed a complaint that it was stolen.
The Rybolovlevs have been fighting since 2008 over the terms of their divorce. Elena is demanding $3.5 billion, less than half of Dmitry's $9 billion fortune. She has accused him of ignoring a Swiss court order freezing his assets by using Domus to buy lavish real estate abroad, including an $88 million penthouse.
The Russian tycoon was ranked 119 in 2012 among Forbes billionaires with a net worth of $9.1 billion.
The businessman is also an investor, philanthropist and the owner of French football club AS Monaco FC. Prior to last year's bailout agreement he was also a 10% shareholder in the Bank of Cyprus.


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