An international art dealer has gone on trial in Paris on charges of tax fraud and money laundering.

Two relatives of Guy Wildenstein allegedly informed authorities of the family’s financial dealings, prompting them to demand around $602 million in back taxes.

Wildenstein, 70, the Franco-American heir of a New York art-dealing empire, is accused of concealing much of his inherited fortune in trusts held in offshore tax havens. He faces up to 10 years in prison if convicted.

In one of the biggest tax fraud trials ever held in France, investigating judges say Wildenstein and his late brother Alec fraudulently undervalued the enormous family patrimony in the estate tax return after their father Daniel, a French citizen and a renowned art dealer, collector and historian, died in Paris in 2001.

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