Russian billionaire Mikhail Prokhorov has gone on record Tuesday to deny reports in French newspapers that he had bought Villa Leopolda, the world’s most expensive home for £392 million.

Earlier reports from AFP and the Nice-Matin newspaper had identified Prokhorov as the mystery Russian oligarch behind the purchase of the French Mediterranean villa.

However, Prokhorov’s spokesman now says the 43-year-old metal tycoon, who now heads Onexim Group, a Russian private investment fund, is not behind the deal.

In an interview with Reuters and UK’s Telegraph, Sergei Chernitsyn was also quoted as saying his boss would not do business in France until he receives an apology from French authorities, who in January 2007, rounded up Prokhorov at the French ski resort of Courchevel and detained him for an investigation into his suspected involvement in an illegal prostitution ring.

"Before the conflict with French authorities is settled and before he gets an apology from the French side, neither Onexim nor Prokhorov himself would do any business in France," said Sergei Chernitsyn, referring to the metal tycoon's investment vehicle, Onexim Holdings.

via Telegraph / Reuters