Art Dealer to the Stars Sentenced for Swindling Millions

Tuesday, Aug 3, 2010  |  Updated 7:00 PM EDT
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Art Dealer to the Stars Sentenced for Swindling Millions

Lawrence Salander saw his gallery padlocked in 2007.

A once high-flying Manhattan art dealer has been sentenced to at least six years in prison for swindling about $120 million from such elite clients as John McEnroe and the estate of actor Robert De Niro's artist father.

  Lawrence Salander reiterated that he was "deeply ashamed" of his massive fraud as he was sentenced Monday. The 61-year-old could serve as much as 18 years without time off for good behavior.
 
He pleaded guilty in March to grand larceny and other charges. He admitted bilking more than two dozen clients through phony art investment opportunities and sales of pieces he didn't own.
 
State Supreme Court Justice Michael Obus called Salander's scheme a "deplorable" exploitation of a business that operated on handshake deals.
 

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