New York art dealer has pleaded guilty to stealing $ 120 million
Lawrence Selender, which became the main defendants American "affairs of Antiquaries, said in court that he regretted his deed. Now he faces 18 years in prison. In addition, he will have to return the stolen millions of victims
New York art dealer Lawrence Selender (Lawrence Salander), became main defendants American "business Antiquaries », pleaded guilty to stealing $ 120 million from its clients and investors. "I am ashamed for their actions. I am sorry about them "- he said in court.
Judge of the Supreme Court of New York Michael Obus (Michael Obus) stated that 60-year-old Selender be sentenced to 18 years in prison freedom. It will also be obliged to return the stolen funds to victims. The date of the final sentencing judge did not name, but said that a hearing on compensation is scheduled for May 20.
Selender Lawrence was arrested on 26 March 2009 on charges of stealing a large-scale , forgery and fraud to defraud investors. Belonged to his gallery Salander-O'Reilly in one of the most expensive areas of New York was closed in October 2007 after coming to her address widespread allegations from disgruntled clients.
Selender admitted that he was engaged in a criminal scheme, which sought to fraud victims. He also said that given in the Bank of America fraudulent application for a loan of $ 2 million dollars, where indicated as collateral does not belong to him works of art. He confessed that he had offered to investors to buy share in the work of art that he had resold at a higher price and often sold in three stakes in 50 percent of the same work. Selender lied to investors about the allegedly belonging to the gallery of exclusive rights to some of the work and not pay interest to customers after the sale of their property.
Sources: , artinvestment.ru
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