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CROOK ALERT!! --SALANDER-O'REILLY GALLERY CHARGED IN $88 MILLION PONZI SCHEME
Noted Art Dealer Charged in Ponzi Scam--James Barron in the NYT 3-26-09
The New York Times reported March 26 that Lawrence Salander, noted East Side NYC art dealer, has been indicted in an $88 million Ponzi fraud involving investors and art collectors who consigned paintings to Mr. Salander's posh East Side gallery.
Tennis star John McEnroe, a hedge fund operator and several collectors and artists who have invested in Mr. Salander's gallery and expensive works of art are among those filing suit alleging fraud by Salander. Salander recently filed for bankruptcy and closed his 71st street gallery earlier this year.
There's nothing like a deep recession to bring the roaches out of the woodwork--first AIG, then Madoff and now a longtime New York art dealer.
New York Art Dealer Indicted in $88 Million Fraud
- New York Art Dealer Indicted in Alleged $88 Million Fraud
Lawrence Salander was indicted on 100 counts including grand larceny, scheming to defraud, falsifying business records, forgery and perjury.