Art-World Madoff Arraigned in Manhattan Court

[grassfed]

Source: Artinfo

Art-World Madoff Arraigned in Manhattan Court
By Judd Tully
Published: March 26, 2009

NEW YORK—In a kind of junior Bernie Madoff Ponzi scheme of the art world, Lawrence B. Salander, 59, was arrested at 7:45 a.m. today at his 66-acre Millbrook, New York, estate and served, along with Salander-O’Reilly Galleries, a 100-count indictment for stealing $88 million from 26 victims, including investors, art owners, and a bank.

Victims ranged from Renaissance Art Investors, which acquired 328 Old Masters from Salander and then consigned the works back to him to sell, resulting in a $42 million loss; to Earl Davis, the son and heir of painter Stuart Davis, in the hole for $6.7 million.

One high-profile victim was tennis star and art collector John McEnroe, who lost $2 million over an investment in two Arshile Gorky paintings, Pirate I and Pirate II, which Salander had already sold to another duped investor. (ARTINFO has learned that one of the Gorky paintings, Pirate I, was loaned by McEnroe to David Anfam’s "Abstract Expressionism — A World Elsewhere" exhibition at Haunch of Venison in New York last fall, and the suspect picture was removed by authorities as a result of the criminal investigation.)

Presiding over a crowded press conference at One Hogan Plaza, Manhattan District Attorney Robert M. Morgenthau quipped that Mr. Salander “was a very good salesman.”

Read more: http://www.artinfo.com/news/story/30959/art-world-madoff-arraigned-in-manhattan-court/

[KoKo]

1. When even the VERY RICH get SCAMMED will they wake up and fight

against the scams the Middle and Poor in America deal with every day? Our "Media" being one scam that keeps all of us uninformed except for the Propaganda.

When even John McEnroe and the rest get scammed and even other sports figures are into Scamming themselves...what the hell kind of world do we live in?

:shrug:

[Swagman]

2. they will start to blame the poor and protect the rich

believe me..it's about to begin.

[No Elephants]

4. The poor are already being blamed. Just look at those, even here, who blame economic collapse on

those who allegedly lied to get mortgages.

"Liar loans." Yeah, that's it. That's the ticket.

[grassfed]

3. John McEnroe helps nab art dealer

Tennis great John McEnroe helps nab art dealer Lawrence Salander, who was indicted for fraud

http://www.nydailynews.com/news/ny_crime/2009/03/26/2009-03-26_tennis_great_john_mcenroe_helps_nab_art_.html