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awarenessadventurer ago

2010 Gagosian Gallery Makes Play For $3M Stanford Bullion https://www.law360.com/articles/152443/gagosian-gallery-makes-play-for-3m-stanford-bullion With $3 million of gold for an exhibition caught up in Stanford International Bank Ltd.'s alleged Ponzi scheme, the Gagosian Gallery Inc. has gotten permission to pursue its own lawsuit over the bullion, gaining ground against the receiver's claims that the gold belongs to the Stanford estate. Judge David C. Godbey cleared the way Friday for the gallery to pursue its lawsuit over 101 gold bars it acquired for exhibition from Stanford Coins & Bullion Inc., days before federal regulators accused infamous financier Robert Allen Stanford of operating a $7 billion fraud scheme and froze his assets.

Fakes, forgeries and dirty deals

Global fight against amorphous art fraud http://www.fraud-magazine.com/article.aspx?id=4294991131 The opaque and unregulated global art market is vulnerable to forgeries, tax fraud, insurance fraud and money laundering. Here are details on how fraud examiners can detect and investigate crimes in this murky corner of creative commerce and why circumstances are often in the fraudster's favor.

Prosecutors Expose Jho Low’s Secret Schemes to Illicitly Acquire $137 Million in Art Funds were used to buy works by Van Gogh and Monet https://news.artnet.com/art-world/documents-show-jho-low-tktkt-567875

Did This Billionaire Get Swindled Out of Millions in an Elaborate Art World Scheme? Russian billionaire Dmitry Rybolovlev may have been hoodwinked by his close friend in the biggest scandal to hit the art world in decades. http://www.townandcountrymag.com/society/money-and-power/a4327/billionaire-defrauded-art-world-scheme/

THE PANAMA PAPERS HAVE REVEALED THAT I WAS RIGHT AT STOPPING ART DEALING AFTER BEING INTRODUCED TO THE NAHMAD FAMILY BY A NY WEALTH MANAGER https://taboofart.com/2016/04/10/the-panama-papers-have-revealed-that-i-was-right-at-stopping-art-dealing-after-being-introduced-to-the-nahmad-family-by-a-ny-wealth-manager/ In the most recent case, New York’s Helly Nahmad has been indicted for allegedly running illegal gambling dens at the family art gallery and money laundering. Although Nahmad’s lawyers strongly reject the accusations, the affair has led to renewed calls for the art market to be better regulated. In my experience, a former client of mine, David Dwek, Executive Director at Morgan Stanley Investment Banking responsible for Private Sponsor coverage, introduced me to Nahmad and offered to introduce me to Mugrabi to do business with him saying that both of them ‘control the market’. The moment I hesitated not only he poisoned my relationship with friends and clients but pushed me into depression and deciding to stop art dealing

The art of tax evasion The cat-and-mouse game between wealthy investors and tax authorities over payments for luxury goods, most notably paintings, is facing greater scrutiny JANUARY 2017 http://www.llnyc.com/stories/the-art-of-tax-evasion

Gagosian Gallery Ranked As Most Active Borrower In Art Gallery World https://artlaw.foxrothschild.com/2015/10/articles/art-finance/gagosian-gallery-ranked-as-most-active-borrower-in-art-gallery-world/

ASolo ago

"Modernism has been a money laundering scheme of one sort or another since the beginning. And I mean all of it. In other words, it is a manufactured market, manufactured to move large sums of money around without regulation and without suspicion." -Mathis

http://mileswmathis.com/launder.pdf