UK’s top art dealer sued by pals over £500k ‘deception’

Hto buy online images from the likes of emin (below with Blain) and Hirst for anything from £5 to £1,500. Boas and Graham-Maw say only £725,000 worth of subscription shares in Sedition were issued — rather than £1 million, as they had been assured would be the case — and that, as a result, their money should have been returned to them.

They claim Blain used the money ‘for purposes unknown’, causing Sedition to breach agreements, and also allege he transferred shares to another company, Markway ltd, in an act of deliberate deception.

Blain, who lives with his second wife, Norwegian model Bodil Bjerkvik, in an £8million house in Notting Hill, has responded arguing that any agreements with Boas and Graham-Maw were ‘informal’, arising from the fact that the three of them were friends. He says the full £1million of shares were issued — but not until June 2014, because of ‘an oversight’. let’s hope that Boas and Graham-Maw – both also residents of Notting Hill – now consider themselves to be fully in the picture.