President of AS Monaco taken into custody

The billionaire was still in custody late Tuesday afternoon, along with several others involved in a court case.

Rybolovlev's spectacular home, La Belle Epoque had been searched in the morning. 

His lawyer Herve Temine confirmed the latest developments, while stressing the principle of the presumption of innocence.

Temine's colleague Thomas Giaccardi said the latest move came after the seizure and analysis of a mobile phone belonging to one of Rybolovlev's lawyers, Tetiana Bersheda.

The Russian is at the heart of the case opened last year by the General Prosecutor's office of Monaco for "corruption", "attempting to exert illegal influence" and complicity in the same crimes.

The case has been a source of concern at the highest levels of government in the principality, and had already seen Philippe Narmnino, a prominent Monegasque politician, arrested in September 2017.

Narmino had been forced to leave his role as the Minister for Justice of Monaco after 'Le Monde' revealed how the local justice system was in cahoots with Rybolovlev.

Narmino stated at the time: "The personal allegations against me and the repeated attacks on the judicial institution no longer allow me to effectively remain in charge."

The French newspaper had revealed hundreds of text messages exchanged by a hidden network working on Rybolovlev's behalf to pervert the course of justice.