France confiscated a spectacular 118 million dollar mansion from Roman Abramovich

The French authorities seized Roman Abramovich's impressive villa in southern France that once belonged to the Duke and Duchess of Windsor, as part of an offensive against Russian oligarchs amid the invasion of Ukraine.

Château de la Croë is located in one of the most prestigious parts of the French Riviera, Cap d'Antibes, and local estate agents estimate it to be worth around $118 million.

Built in 1926, the elegant villa is complete with more than a dozen bedrooms, eight bathrooms and is set in 12 acres of lush forests and lush gardens just metres from the Mediterranean Sea.

Abramovich spent about $40 million on the restoration of the Château after he bought it in 2001, built a 15-meter pool on the roof and inserted a huge gym and home theater in the basement to create the ultimate billionaires' playground.

But before one of Putin's favorite tycoons moved in, the incredible property was used as a holiday home by the former King of England Edward VIII and American socialite Wallis Simpson, better known as the Duke and Duchess of Windsor.

The Duke and Duchess of Windsor became owners of the Château de la Croë in 1938 after King Edward VIII abdicated the throne.

The villa became one of the couple's favorite retreats and was also used on several occasions to house highly esteemed guests.

Winston Churchill, the famous prime minister who successfully led Britain to victory in World War II, celebrated his 40th wedding anniversary with the duke and duchess in the villa in 1948 before the castle was sold two years later.

The seizure of the villa by the French authorities occurred as part of a huge operation in which more than $27 billion in cash, property and other assets belonging to Russian oligarchs were confiscated or frozen in recent weeks, the French Ministry of Economy and Finance confirmed today .

A source in the ministry said that the villa was among the 12 properties belonging to the former owner of Chelsea Football Club that were seized, most of which were purchased by specially created French companies.

“The assets seized include houses, superyachts and helicopters, and they total more than 25 billion euros,” the source said.

Freezing real estate assets means that they cannot be sold or used for rental income, the source explained.

“There are 33 properties that have been frozen, including a dozen belonging to Roman Abramovich. It's all part of the sanctions program being implemented against the Russian Federation in response to its invasion of Ukraine,” he added.

The figures also include the equivalent of about $25 billion in cash locked in the French accounts of the Central Bank of Russia.

Abramovich's extensive property on the Caribbean island of St Barts, an island partially ruled by France as an overseas territory, is also among the assets seized.

Property has also been purchased at the Meribel Alpine Ski Resort, as well as other world-famous Riviera resorts, such as Saint-Tropez and Cannes.

The French Ministry of Finance formed a working group consisting of tax inspectors and customs officials to identify and confiscate Russian-owned property on an EU sanctions list.

The operation came when France also expelled six suspected Russian spies “operating under diplomatic cover”.

A spokesman for the Foreign Ministry said that the men and women had been sent back to Moscow after a lengthy investigation by the internal security agency DGSI.

His investigation uncovered “a secret operation carried out by Russian intelligence services on French soil,” the source said.

There was no immediate comment from Abramovich, 55, who was also frozen assets by the British government, including Chelsea Football Club.

The close ally of Russian President Vladimir Putin, is believed to be currently in Moscow.

As Abramovich watches his assets seized, several potential billionaire buyers compete to take ownership of his beloved Chelsea.

Four known offers are still being considered to buy Chelsea, which could sell for around 4 billion dollars given the interest that has arisen since Abramovich put the London Premier League club up for sale.

The British government must sign the sale, which is being overseen by the New York-based commercial bank Raine Group, under terms that allow the equipment to continue operating since Abramovich was sanctioned.

But Abramovich cannot benefit from any of the proceeds from the sale.

“Our role is to consider an application for a modified license that authorizes the sale of the club when it is filed with a preferred bidder,” the British government said in a statement.

Chelsea has won 21 trophies in Abramovich's 19-year ownership, relying on her generous investment to become one of the most successful clubs in Europe.

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