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A major Swiss art dealer was on Monday placed under investigation in Paris and given a €27 million bail for the “concealed theft” of two Picasso paintings which the Spanish artist’s family said were never for sale.

Yves Bouvier, 52, faces charges of hiding the fact that two gouache paintings - Tête de femme. Profil (Woman's head. Profile) and Espangole à l'éventail (Spanish woman with a fan) - he sold to a Russian oligarch in 2013 were in fact stolen from Picasso’s stepdaughter – Catherine Hutin-Blay.

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