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Gros suspended over cash payment

17 June 2013Written by ATG Reporter

Henri Gros, partner in the Paris auctioneers Gros & Delettrez, has been suspended for two months for accepting €200,000 in small denomination notes from a Chinese buyer after the Paul-Louis Weiller sale in April 2011.

EU anti-money-laundering legislation sets a ceiling of €15,000 on cash payments from non-residents.

Me. Gros who admittted to being imprudent but not deliberately dishonest, said he had been poorly advised by his bank.

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