New York Art Dealer Michael Cohen Arrested for Fraud

Interpol agents in Brazil arrested a New York art dealer Michael Cohen for allegedly defrauding U.S. art galleries of some $12 million. According to investigators, Michael Cohen is being charged with wire fraud and interstate transportation of stolen property in connection with the theft of a Picasso painting and a scheme to cheat the buyers of a Monet work. The paintings involved are Pablo Picasso’s Nu Accroupi and Claude Monet’s Le Repos Dans Le Jardin, Argenteuil. A criminal complaint unsealed Tuesday in a Manhattan court claims Mr. Cohen brokered the sale of the Picasso but kept the $4.5 million in proceeds. It also accuses him of selling duplicate interests in the Monet for a total of $7.5 million and failing to deliver the painting to either buyer.

Published in: on May 9, 2003 at 2:51 am  Leave a Comment  
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