A High Court dispute over a Picasso painting has revealed the offshore financial structures of Sasan Ghandehari, the Iranian-born businessman who funded Nigel Farage's £50,000 trip to Davos. The case involves a £4 million claim by a British Virgin Islands firm against Christie's auction house, which alleges misrepresentation over the sale of the artwork.
Court documents show that Ghandehari, a British citizen with a reported $10 billion family trust, acted as a representative for Brewer Management Corporation in the deal. His wife, Yassmin Ghandehari, is described as the ultimate beneficial owner of the BVI company. Christie's has counterclaimed for £16 million, alleging non-payment for the painting, Femme dans un rocking-chair, and has raised concerns about the firm's ability to cover legal costs.
Ghandehari was reluctant to disclose details of his income from HP Trust or its $10 billion in assets, citing privacy concerns. His lawyer described such disclosure as an 'invasive exercise'. The lack of transparency has drawn criticism from campaign group Unlock Democracy, whose director Tom Brake called for full transparency in political donations.
The case also highlights links between Ghandehari and a design company that donated £200,000 to Reform UK. Richard Darby, a representative for Ghandehari during the art negotiations, was previously the owner of Interior Architecture Landscape, which made the donation. Lawyers for Ghandehari stress he had no influence over the donation.
Ghandehari's wealth originates from his late mother, Hourieh Peremaa, who fled to Iran as a refugee and made billions in property. The HP Trust's investments are said to include real estate and capital-markets assets in Europe and North America. The legal battle centres on whether Christie's should have disclosed that the seller had a drug trafficking conviction.
