U.S. Sentences Art Dealer to 7 Years for $86 Million Fraud Scheme | OCCRP

OCCRP reported on the sentencing of art dealer Inigo Philbrick to seven years in prison and $86,672,790 in restitution/fines for his 'Ponzi-like' scheme in the contemporary art market. Philbrick operated galleries in London and Miami, built his business by collateralizing and reselling fractional shares in high-dollar contemporary art, and fled to Vanuatu before being arrested in June 2020.