20.9 million euros transferred, nearly 40 million euros of property and shares seized, bank accounts abroad and a real estate project in Bonifacio…
The trial of a vast real estate transaction in Corsica-du-Sudin which a former Russian senator claims he was cheatedis experiencing a new legal setback. Initiated since October 21, 2026 before the Marseille criminal court, the procedure targeting nine defendants is suspended following an appeal relating to the territorial jurisdiction of French justice. The court of appeal must rule on January 12, before a new procedural deadline set for April 16, 2027.
At the heart of this case with international ramifications, a transfer of 20.9 million euros, bank accounts abroad and a major real estate project in Bonifacio. Among the defendants is Jean-Noël Marcellesi, hotelier and real estate agent in Corsica-du-Sudwho disputes the alleged facts.
A real estate dispute with international ramifications
The case notably opposes theformer Russian senator Vitaly Malkin to several actors involved in a real estate operation planned in Bonifacio. The investigations relate to movements of funds which would have been diverted from their initial destination, according to the prosecution.
The judges of the Sixth Economic and Financial Chamber of Marseille criminal court had started examining the file on October 21. But, on October 22, they rendered a decision of partial territorial incompetence, considering that a French court could not judge certain acts of breach of trust committed abroad by foreign companies. This decision led to the release of the file of several actors, including the Swiss bank Edmond de Rothschild and the Banca Sammarinese di Investimento (BSI), established in San Marino, which are accused of aggravated money laundering. Two defendants of Luxembourg and Italian nationality are also affected by this decision.
The parquet and the lawyers of Vitaly Malkin, civil partyappealed. The Court of Appeal agreed to immediately examine this question of territorial jurisdiction and will issue its decision on January 12, 2027.
Vitaly Malkin, pictured here, East A man business And ancient senator Russian, born in 1952 In the Urals. He has do fortune In THE sector banking After there fall of the Union Soviet, notably in co-founder there bank Rossiysky Kredit with the man business Bidzina Ivanishvili. In 2004, he has joined THE Advice of there Federation, there bedroom high of Parliament Russian, Or he has represented there republic of Buryatia. He has left his functions in 2013, After a controversial linked has its Nationality Israeli. Installed Since several years on there Side Azure, he is notably found At heart of a dispute judicial around of a project real estate has Bonifacio, carrying on A transfer of 20.9 million euros. © Ksenia Usacheva
A transfer of 20.9 million euros at the center of the accusations
Among the main aspects of the case is a transfer of 20.9 million euros made from Vitaly Malkin’s accounts towards accounts of which Jean-Noël Marcellesi and Pierre Grotz would be the beneficiaries economic.
Former investment advisor to the Russian businessman, Luxembourger Pierre Grotz is also being prosecuted for breach of trust. According to the prosecution, the funds were directed to accounts unrelated to thereal estate operation envisaged by the three men in Bonifacio. Jean-Noël Marcellesi and Pierre Grotz dispute this reading of the facts, maintaining that the sums paid corresponded to their commissions.
On the other hand, the Marseille criminal court retains its jurisdiction to judge five defendants of French nationality. The remainder of the procedure will, however, depend on the decision of the court of appeal and a possible appeal to the Court of Cassation.
Nearly 40 million euros of property and shares seized
The case also has an important heritage aspect. Jean-Noël Marcellesi remains subject to judicial review and a bond of 1.96 million euros, paid in March 2014. Real estate and shares in companies belonging to him were also seized for a total amount of around 40 million euros. His lawyer, Me Margaux Durand Poincloux, had requested the release of this bail, but the court rejected this request, like those aimed at modifying the judicial control measures of his client and Olivier Couriol. Indeed, the latter is suspected of having made his Swiss bank accounts available to allow the transit of 6.7 million Swiss francs, or approximately 7.25 million euros, to an account held by the Corsican real estate agent in Nassau, in the Bahamas.
Justice also maintained the bail of 400,000 euros imposed on Olivier Couriol in April 2016.
Another sticking point is the length of the procedure. The defense denounced an unreasonable delay, without obtaining a modification of the financial measures imposed on the defendants. Following the decision of the Court of Appeal of January 12, 2027, and subject to a possible appeal before the Court of Cassation, the Marseille criminal court will re-examine the file during a procedural hearing scheduled for April 16, 2027, said its president, Pascal Gand.
© Sotheby’s
