Rogue knew all about art of the scam
A BRITISH art dealer with an office in New York has been indicted for stealing at least $10 million from clients, prosecutors said Friday.
Timothy Sammons, 61, was charged with grand larceny and scheme to defraud in the swindle involving the sale of high-end pieces including Pablo Picasso’s “Buste de Femme,” Marc Chagall’s “Reverie” and “Calanque de Canoubiers” by Paul Signac.
“The defendant in many cases sold the pieces without telling victims and failed to turn over proceeds,” Assistant District Attorney Kevin Wilson said at his arraignment in Manhattan Supreme Court.
Wilson said Sammons also misled clients about the status of deals and used profits to get collateral for loans he never repaid.
Sammons was ordered held without bail at his arraignment. He fought extradition in the United Kingdom for more than a year.
“This is a complex and a detailoriented case that is going to take significant time and work and once that is done Mr. Sammons will be vindicated,” said his lawyer Glenn Hardy.