YOU CANNOT BE SERIOUS!!! John McEnroe duped in art scam

[Bluebear]

NEW YORK (Reuters) – Former tennis champion John McEnroe was duped along with Bank of America, investment firms, art owners and collectors in a sophisticated $88 million art investment scam revealed in New York on Thursday.

Art dealer Lawrence Salander, 59, was arrested at his New York home on Thursday, when he and his gallery were charged with 100 counts, including grand larceny and securities fraud, Manhattan District Attorney Robert Morgenthau told a news conference.

Salander pleaded not guilty in New York's Supreme Court and his bail was set at $1 million. He faces up to 25 years in prison on the most serious charge.

"We intend to vigorously defend against these allegations in the courtroom." Salander's lawyer Charles Ross said.

So far, 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.

http://news.yahoo.com/s/nm/20090326/stage_nm/us_crime_art_mcenroe_spo

[lamp_shade]

1. Love your title.

[lib2DaBone]

2. Bernie Madoff does a reach-around........

[stillcool]

3. Wow..how old is Morgenthau?

[Mist]

4. Practically older than God. Wiki says he was born in 1919. nt