Rogue at gallery is guilty of art fraud

A PARK AVE. gallery owner painted a picture of deceit on Thursday before pleading guilty in Manhattan Federal Court to ripping off clients with bogus art deals.

Ezra Chowaiki, 49, quivered as he recited his scheme between 2015 and 2017 to bait dealers and collectors into bogus investments to buy paintings by well-known artists.

After scoring the money through false promises, he would not purchase the art and instead use it for other purposes, he said.

“I knew that what I was doing was wrong and illegal,” Chowaiki told Judge Jed Rakoff. “I’m terribly sorry.”

Prosecutors said he also lured clients into entrusting expensive works of art for consignment — and then secretly sold the pieces.

Chowaiki, who was arrested in December, reached a deal with federal prosecutors to plead guilty to one count of wire fraud.

He also agreed to forfeit $16.6 million and 25 pieces of art.

Under the deal, he is expected to receive 51 months to 63 months in prison. However, the judge still could impose a maximum sentence of 20 years behind bars.

Prosecutor Daniel Tracer told Rakoff that the government has about half of the 25 pieces of forfeited art. He said investigators were still trying to track down the other half — some of which had been sold to collectors around the world.

The Chowaiki & Co. gallery — which in its heyday hosted exhibits of paintings by art titans Pablo Picasso and Marc Chagall — went bankrupt in November.