Monaco Dmitri Rybolovlev

Monaco owner Dmitri Rybolovlev has confirmed he has been arrested and is under investigation by police in the principality.

French media reported the billionaire’s luxury Monaco apartment had been searched and he had been placed in custody on Tuesday before being freed later the same day.

In a press release published on behalf of Rybolovlev on Wednesday, it was confirmed the Russian businessman, ranked 242nd among the world’s richest people, is “under judicial supervision” after being released, but is “free in his movements” with no restrictions other than “not to meet the people concerned by the investigation.”

“Being under investigation … is a status given to a person when the [investigating] judge considers there are sufficient clues against them,” the release said.

“It is in no case charges justifying a trial and still less proof leading to a conviction.

“We insist particularly on the fact that at this stage, Mr. Rybolovlev is presumed innocent, and it is necessary to rigorously respect this principle and the rights that go with it.”

No details of the investigation have been confirmed, nor any potential breaches of the principality’s law Rybolovlev may or may not have committed.

The 51-year-old, who made his fortune in the potash industry, bought Monaco for €1 in December 2011 with the club struggling in the French second division.

He invested heavily and saw the club win the 2016-17 Ligue 1 title and reach the Champions League semifinals the same season.

They have also twice finished runners-up during his ownership, but this season find themselves in the relegation zone after a disastrous start that saw title-winning coach Leonardo Jardim replaced by Thierry Henry.

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