A Russian billionaire has lost a £36 million deposit he paid to buy the most expensive house in the world on the French riviera, plus another £1million interest.
Mikhail Prokhorov – the world’s 24th richest man – offered £360 million for the sprawling Villa Leopolda in 2008.
After making a ten per cent down-payment, he then backed out of the sale after the global credit crunch hit.