27
Mar
09

I Bet He Yelled a Lot


Along with a number of other rich folk, tennis legend John McEnroe found out that they were duped by art dealer Lawrence Salander, who pulled off his own version of an $88 million art Ponzi scheme.

Manhattan District Attorney Robert Morgenthau at a press conference said, “He sold artwork not owned by him and kept the money and lured investment money in fraudulent investment opportunities.”  Salander used the money to fund “an extravagant lifestyle” of lavish parties and private jets, Morgenthau added.

I can imagine that McEnroe, best known for his tantrums on the courts and fights with line judges, took the entire thing in stride, probably taking it very calmly and with a measured and calculated response. Or about 15,000 F-bombs and “motherfuckers.”

Some of the details of the alleged scheme:

Authorities have identified 26 victims of Salander’s scheme, including McEnroe, who lost $2 million after investing a half share in two paintings, Arshile Gorky’s “Pirate I and II.” The share in the paintings was sold at the same time to another collector, and McEnroe never recouped the money, authorities said…

Renaissance Art Investors, a company focused on investment in old master paintings, lost $45 million in the scheme, authorities said.

Earl Davis, the son of American abstract painter Stuart Davis, lost $6.7 million, authorities said, while Bank of America lost $2 million after Salander lied about paintings he owned to secure a loan.

Hester Diamond, the widow of late renowned New York art dealer Harold Diamond and mother of Beastie Boys’ Mike D, lost $6 million, authorities said.

I wonder if McEnroe thinks Salander needs to go to The CHAIR

[Yahoo!]


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