Salander Arrest, $88m Art Fraud Alleged

 Lawrence Salander of Salander-O’Reilly Galleries was arrested Thursday in New York, charged with stealing $88 million through consignments of artworks at his gallery.  Charges include selling the same artworks to multiple buyers.  Manhattan D.A. Robert Morgenthau has also accused Salander of inflating the value of artworks, enabling him to gain greater investments from victims of the scheme. 

 Mr. Salander is accused of grand larceny, falsifying business records, scheming to defraud, forgery, and perjury.  He has pled not guilty and is currently held on $1m bail.  His passport has also been seized.  The Times article displays an image of a gray hooded Mr. Salander, surrounded by police officers in a New York courtroom.

 26 victims  of the alleged scheme are presently known, but it is unclear as to whether the list will grow as the case progresses.  Tennis legend John McEnroe is listed among them.  According to the Times, Salander-O’Reilly filed for bankruptcy 16 months ago. 

Art Dealer is Charged With Stealing $88 Million (NY Times) 

John McEnroe Duped in Art Scam (Reuters)

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