London art dealer sentenced to 7 years in prison for $86m fraud

Euronews reported that former London-based art dealer Inigo Philbrick, who pleaded guilty in November 2021, was sentenced in May 2022 to seven years in prison for defrauding art buyers out of $86 million through misrepresented ownership stakes in major contemporary works. Artworks implicated in the fraud included a 1982 Basquiat painting titled 'Humidity' and works by Rudolf Stingel and Christopher Wool.