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Real Estate & Property Law

: The Home Equity Theft Reporter

Multi-Billionaire Not Immune To Bad Economy; Seeks To Wiggle Out Of $634M Home Purchase Contract; Asks For His $49M Deposit Back

By r morris

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The New York Post reports:No one is safe from the housing mess - not even a billionaire Russian oligarch. Moneybags Muscovite playboy Mikhail Prokhorov has been hit so hard by the worldwide economic downturn that he's trying to back out of a deal to buy the world's most expensive mansion on the French Riviera.Last year, he thought nothing of making a deal to pay $634 million for the Villa

Full post as published by The Home Equity Theft Reporter on February 24, 2009 (boomark / email).

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