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Tennis legend John McEnroe, together with his associates, was reportedly scammed in a multimillion art investment scam. The scam reportedly reached nearly $90 million.
Lawrence Salander, a fifty-nine year old art dealer, was arrested in New York on Thursday. He’s facing up to 100 charges which include securities fraud and grand larceny. This was revealed by Manhattan District Attorney Robert Morgenthau.
The bail for the suspect has been set at $1 million. As expected, the art dealer pleaded not guilty on the charges and that his lawyer, Charles Ross, stressed that they will use all their sources to defend these allegations in court.
McEnroe was among the 26 victims identified so far by the authorities.
The tennis great reportedly lost $2 million for investing in two paintings. These two items were then sold to another collector at the same, thus no money was recovered. Also a victim of the scheme was the mother of Beastie Boys member Mike D., who invested and lost $6 million.
The scheme allegedly lasted about 13 years (1994-2007). A number of investors have already filed their claims against Salander.
