Thursday, September 21, 2023
  • Login
EthozEdge
No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
Cryptocurrency Marketcap
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
No Result
View All Result
EthozEdge
No Result
View All Result
Home NFT

Disgraced dealer Douglas Chrismas ordered to repay $14.2m in profits from art sales

by ethozedge
May 11, 2022
in NFT
Reading Time: 3 mins read
A A
0
Share on FacebookShare on Twitter



Former gallerist Douglas Chrismas has been ordered to repay $14.2m in profits from sales of artworks at his former gallery that he diverted into personal accounts. The summary judgment handed down on 4 May in the US Central District Court of California marks another low point for a dealer who once operated at the highest echelons of the art market.

Chrismas was considered to be at the forefront of the Los Angeles art scene in the 1980s and 90s, organizing shows for artists including Robert Motherwell, Michael Heizer and Robert Irwin at his now-defunct Ace Gallery. But financial troubles overtook his reputation and Chrismas was repeatedly sued by his artists for non-payment and theft of artwork, while his landlords sought to recoup unpaid rent. By 2006 he had filed for bankruptcy 11 times, preventing creditors from collecting the money owed them.

In 2013 Chrismas filed for bankruptcy once again, but continued to run Ace Gallery until 2016, when bankruptcy trustee and forensic accountant Sam Leslie was placed in charge of the business. Leslie discovered that a total of approximately $17m had been transferred into two accounts known as “ACE New York” and “ACE Museum”. Both organizations were shell companies that Chrismas controlled. Further, amid the changing of the guard, Chrismas had at least 60 works of art that had not been accounted for in his bankruptcy case moved into a private storage facility.

Last summer, Chrismas was arrested in Los Angeles by the FBI on embezzlement charges related to the diversion of funds from his bankruptcy case, totaling approximately $260,00. While the federal case was playing out, Leslie had opened a civil suit seeking to recoup the profit from sales that Chrismas had transferred into personal accounts. On 4 May, after five years of fact-finding, the US Central District Court of California ruled in Leslie’s favour. A summary judgment—which are often made when a case includes overwhelming and undeniable evidence in one party’s favour—was issued in lieu of a trial, ordering Chrismas to pay $14.2m.

Though Chrismas has made attempts to maintain footing in the art world by continuing to deal works by lesser-known artists throughout his recent legal troubles, representatives for Leslie at law firm SulmeyerKupetz insist that any funds recovered will be distributed to the plaintiffs in the summary judgment. Leslie’s lawyers added that there is no way to know how their client’s victory in the civil suit will impact Chrismas’s upcoming criminal case. If convicted of all federal charges, he will face a maximum of 15 years in prison.

Lawyers for Chrismas had not responded to requests for comment as of press time.

Even at the height of his career, Chrismas was no stranger to scandal. He had connections to notorious conman Ron Levin, who died under mysterious circumstances during the Billionaire Boys Club murders in 1984. He also became embroiled in a $1bn international art fraud case after selling a smuggled Roy Lichtenstein in 2007.



Source link

Tags: 142martbitcoin newsChrismascrypto analysiscrypto newsdealerDisgracedDouglasEthoz EdgeLatest bitcoin newslatest crypto newsorderedProfitsrepaysales
Share76Tweet47

Related Posts

World’s oldest wooden structure discovered in Zambia

by ethozedge
September 21, 2023
0

Humans were making wooden structures as early as half a million years ago, new archaeological research has revealed. The structure...

Ex-dealer Robert Newland sentenced to nearly two years in prison for role in Inigo Philbrick’s art frauds

by ethozedge
September 20, 2023
0

Robert Newland, whose work as a financial adviser for the convicted art fraudster Inigo Philbrick helped the latter scam clients...

An environmental art festival in Los Angeles seeks to counteract climate despair and inspire action

by ethozedge
September 20, 2023
0

Sprawled on a grassy knoll on the campus of the California Institute of the Arts (CalArts) in Los Angeles are...

Steve McQueen will take over Dia Beacon’s cavernous basement next spring with ‘his most abstract work to date’

by ethozedge
September 20, 2023
0

Next spring, a new, immersive commission by the artist and filmmaker Steve McQueen will take over the cavernous lower level...

International NFT Day: Celebrating Digital Ownership

by ethozedge
September 20, 2023
0

Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Every year,...

Load More
  • Trending
  • Comments
  • Latest

🔴 Bank of America Bets on Crypto

April 11, 2022

Pomelo Launches Family Credit Cards to Combine Credit and International Money Transfer

August 16, 2022

How to Add Polygon (MATIC) to Your MetaMask Wallet

May 28, 2022

The Sandbox Price Prediction 2022-2030: HODL or DUMP?

May 25, 2022

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

0

At least 54 apes were stolen in BAYC Instagram hack

0

Binance Introduces New Crypto Card for Ukrainian Refugees

0

55,000 Meta Cricket League NFTs sell out in nine minutes

0

XRP Beats Out Solana And Dogecoin To Dominate US Crypto Exchanges

September 21, 2023

ASTR pares gains after major exchange listing

September 21, 2023

Prince Philip of Serbia Leads the Way for Bitcoin Nation State Adoption with Jan3 and Aqua Wallet in El Salvador

September 21, 2023

IBM TechXchange underscores the importance of AI skilling and partner innovation

September 21, 2023
Facebook Twitter LinkedIn Tumblr RSS
EthozEdge

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at EthozEdge

CATEGORIES

  • Altcoin News
  • Avalanche Network
  • Binance Smart Chain
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Regulation News
  • DeFi
  • Ethereum
  • EVM News
  • Fantom Opera Chain
  • Harmony Chain
  • Huobi Eco Chain
  • Metaverse
  • NFT
  • Polygon Chain
  • Scam News
  • Web 3.0
  • XDai Chain

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • JDBJDB(JDB)$0.021575-0.61%
  • bitcoinBitcoin(BTC)$26,600.00-1.25%
  • ethereumEthereum(ETH)$1,590.54-1.63%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.00-0.05%
  • binancecoinBNB(BNB)$210.68-1.78%
  • rippleXRP(XRP)$0.51-1.01%
  • usd-coinUSD Coin(USDC)$1.00-0.04%
  • staked-etherLido Staked Ether(STETH)$1,588.32-1.68%
  • dogecoinDogecoin(DOGE)$0.061503-1.12%
  • cardanoCardano(ADA)$0.247369-1.65%
  • ToncoinToncoin(TON)$2.37-2.05%
  • solanaSolana(SOL)$19.64-2.40%
  • tronTRON(TRX)$0.083211-1.28%
  • Wrapped stETHWrapped stETH(WSTETH)$1,865.020.37%
  • polkadotPolkadot(DOT)$4.03-1.83%
  • matic-networkPolygon(MATIC)$0.53-2.66%
  • litecoinLitecoin(LTC)$64.580.33%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,565.00-1.33%
  • shiba-inuShiba Inu(SHIB)$0.000007-1.64%
  • bitcoin-cashBitcoin Cash(BCH)$208.23-3.21%
  • daiDai(DAI)$1.000.00%
  • chainlinkChainlink(LINK)$6.72-2.26%
  • leo-tokenLEO Token(LEO)$3.800.02%
  • true-usdTrueUSD(TUSD)$1.00-0.07%
  • uniswapUniswap(UNI)$4.25-2.23%
  • stellarStellar(XLM)$0.113652-2.61%
  • avalanche-2Avalanche(AVAX)$8.87-1.09%
  • moneroMonero(XMR)$146.68-0.35%
  • okbOKB(OKB)$43.00-0.42%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • binance-usdBinance USD(BUSD)$1.00-0.08%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • ethereum-classicEthereum Classic(ETC)$15.27-1.34%
  • cosmosCosmos Hub(ATOM)$7.25-0.03%
  • hedera-hashgraphHedera(HBAR)$0.0507091.17%
  • filecoinFilecoin(FIL)$3.24-3.10%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • crypto-com-chainCronos(CRO)$0.0510150.00%
  • lido-daoLido DAO(LDO)$1.49-4.09%
  • quant-networkQuant(QNT)$89.91-0.34%
  • internet-computerInternet Computer(ICP)$2.91-2.23%
  • MantleMantle(MNT)$0.394296-1.78%
  • vechainVeChain(VET)$0.017198-1.57%
  • AptosAptos(APT)$5.11-0.32%
  • makerMaker(MKR)$1,320.31-0.62%
  • nearNEAR Protocol(NEAR)$1.131.75%
  • ArbitrumArbitrum(ARB)$0.83-1.49%
  • optimismOptimism(OP)$1.30-5.62%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • KaspaKaspa(KAS)$0.047928-3.59%
  • aaveAave(AAVE)$63.02-2.11%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,725.28-1.67%
  • BitDAOBitDAO(BIT)$0.592.96%
  • the-graphThe Graph(GRT)$0.088048-1.85%
  • immutable-xImmutableX(IMX)$0.6723.53%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$5.330.13%
  • algorandAlgorand(ALGO)$0.097745-0.08%
  • usddUSDD(USDD)$1.00-0.19%
  • xdce-crowd-saleXDC Network(XDC)$0.051911-3.81%
  • elrond-erd-2MultiversX(EGLD)$25.941.88%
  • fraxFrax(FRAX)$1.000.13%
  • blockstackStacks(STX)$0.472473-1.93%
  • havvenSynthetix Network(SNX)$2.05-6.08%
  • eosEOS(EOS)$0.580.25%
  • sapphireSapphire(SAPP)$0.7035.32%
  • Bitget TokenBitget Token(BGB)$0.453566-1.06%
  • tezosTezos(XTZ)$0.66-1.50%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • the-sandboxThe Sandbox(SAND)$0.295047-1.01%
  • bitcoin-cash-svBitcoin SV(BSV)$31.20-0.43%
  • injective-protocolInjective(INJ)$7.11-4.31%
  • render-tokenRender(RNDR)$1.600.16%
  • theta-tokenTheta Network(THETA)$0.590.12%
  • radixRadix(XRD)$0.057358-0.68%
  • axie-infinityAxie Infinity(AXS)$4.41-2.00%
  • decentralandDecentraland(MANA)$0.2956400.12%
  • thorchainTHORChain(RUNE)$1.77-0.38%
  • gatechain-tokenGate(GT)$3.86-0.67%
  • fantomFantom(FTM)$0.188090-2.34%
  • neoNEO(NEO)$7.30-2.30%
  • marumaruNFTmarumaruNFT(MARU)$0.25242622.62%
  • paxos-standardPax Dollar(USDP)$1.00-0.03%
  • kavaKava(KAVA)$0.62-0.13%
  • pax-goldPAX Gold(PAXG)$1,911.64-0.72%
  • tether-goldTether Gold(XAUT)$1,920.63-0.79%
  • compound-ethercETH(CETH)$31.95-2.59%
  • ecasheCash(XEC)$0.000024-4.60%
  • binaryxBinaryX(BNX)$165.94-5.94%
  • flowFlow(FLOW)$0.440080-0.60%
  • Halo CoinHalo Coin(HALO)$0.057352-0.04%
  • convex-crvConvex CRV(CVXCRV)$1.47183.77%
  • kucoin-sharesKuCoin(KCS)$4.541.17%
  • Frax EtherFrax Ether(FRXETH)$1,584.19-1.87%
  • iotaIOTA(MIOTA)$0.1475860.03%
  • apecoinApeCoin(APE)$1.11-0.31%
  • rocket-poolRocket Pool(RPL)$20.74-5.02%
  • chilizChiliz(CHZ)$0.058307-1.03%
  • frax-shareFrax Share(FXS)$5.393.53%
  • First Digital USDFirst Digital USD(FDUSD)$1.00-0.04%
  • curve-dao-tokenCurve DAO(CRV)$0.4468342.33%
  • huobi-tokenHuobi(HT)$2.40-2.09%
  • Tokenize XchangeTokenize Xchange(TKX)$4.76-5.72%
  • casper-networkCasper Network(CSPR)$0.032957-2.67%
  • mina-protocolMina Protocol(MINA)$0.3788140.23%
  • Rollbit CoinRollbit Coin(RLB)$0.111474-0.79%
  • bittorrentBitTorrent(BTT)$0.000000-1.30%
  • DogechainDogechain(DC)$0.001787-24.98%
  • terra-lunaTerra Luna Classic(LUNC)$0.0000604.76%
  • SuiSui(SUI)$0.439591-0.32%
  • dydxdYdX(DYDX)$1.98-0.70%
  • klay-tokenKlaytn(KLAY)$0.108616-3.12%
  • galaGALA(GALA)$0.013078-5.15%
  • Coinbase Wrapped Staked ETHCoinbase Wrapped Staked ETH(CBETH)$1,664.92-1.78%
  • trust-wallet-tokenTrust Wallet(TWT)$0.79-1.53%
  • nexoNEXO(NEXO)$0.570.03%
  • gmxGMX(GMX)$35.02-2.38%
  • apenftAPENFT(NFT)$0.0000000.72%
  • Nexus MutualNexus Mutual(NXM)$45.69-1.57%
  • gemini-dollarGemini Dollar(GUSD)$1.000.05%
  • CyberHarborCyberHarbor(CHT)$10.12-49.84%
  • dashDash(DASH)$26.280.16%
  • Staked Frax EtherStaked Frax Ether(SFRXETH)$1,678.03-1.92%
  • woo-networkWOO Network(WOO)$0.169304-1.90%
  • zilliqaZilliqa(ZIL)$0.0171304.80%
  • AstarAstar(ASTR)$0.0538611.92%
  • safemoonSafeMoon [OLD](SAFEMOON)$0.0000000.05%
  • Shib Original VisionShib Original Vision(SOV)$0.00000012.40%
  • liquity-usdLiquity USD(LUSD)$0.99-0.21%
  • FlareFlare(FLR)$0.011117-2.63%
  • arweaveArweave(AR)$4.21-2.22%
  • 1inch1inch(1INCH)$0.2620774.95%
  • compound-governance-tokenCompound(COMP)$38.85-1.42%
  • WEMIXWEMIX(WEMIX)$0.831.81%
  • conflux-tokenConflux(CFX)$0.124330-1.56%
  • PepePepe(PEPE)$0.000001-1.43%
  • basic-attention-tokenBasic Attention(BAT)$0.173125-0.74%
  • gnosisGnosis(GNO)$99.12-1.71%
  • IdeaChainIdeaChain(ICH)$4.730.00%
  • ftx-tokenFTX(FTT)$1.89-21.52%
  • tomiNettomiNet(TOMI)$3.400.49%
  • Crypto Gladiator LeagueCrypto Gladiator League(CGL)$0.16194440.57%
  • pancakeswap-tokenPancakeSwap(CAKE)$1.15-1.86%
  • Utility Web3ShotUtility Web3Shot(UW3S)$0.4725710.00%
  • SafePalSafePal(SFP)$0.595.65%
  • flex-coinFLEX Coin(FLEX)$2.48357.01%
  • compound-usd-coincUSDC(CUSDC)$0.023053-0.02%
  • huobi-btcHuobi BTC(HBTC)$26,185.00-2.07%
  • fetch-aiFetch.ai(FET)$0.225099-0.92%
  • DeFiChainDeFiChain(DFI)$0.312693-5.24%
  • oec-tokenOKT Chain(OKT)$13.10-0.44%
  • illuviumIlluvium(ILV)$39.91-1.47%
  • Manchester City Fan TokenManchester City Fan Token(CITY)$11.87-1.78%
  • chiaChia(XCH)$27.09-2.13%
  • world-mobile-tokenWorld Mobile Token(WMT)$0.2920233.33%
  • escoin-tokenEscoin(ELG)$2.70-1.11%
  • qtumQtum(QTUM)$2.18-1.02%
  • enjincoinEnjin Coin(ENJ)$0.226816-0.29%
  • nemNEM(XEM)$0.025189-2.45%
  • celoCelo(CELO)$0.442876-1.84%
  • Meerkat SharesMeerkat Shares(MSHARE)$11,715.17-5.03%
  • bitcoin-goldBitcoin Gold(BTG)$12.89-2.21%
  • ecomiECOMI(OMI)$0.0008280.31%
  • mask-networkMask Network(MASK)$2.724.97%
  • singularitynetSingularityNET(AGIX)$0.181082-1.39%
  • SeiSei(SEI)$0.123890-0.04%
  • compound-usdtcUSDT(CUSDT)$0.0190969.33%
  • Staked LunaStaked Luna(STLUNA)$88.35-0.49%
  • tether-eurtEuro Tether(EURT)$1.06-0.51%
  • mx-tokenMX(MX)$2.17-2.53%
  • loopringLoopring(LRC)$0.174716-0.69%
  • oasis-networkOasis Network(ROSE)$0.043244-0.31%
  • heliumHelium(HNT)$1.506.61%
  • convex-financeConvex Finance(CVX)$2.63-1.67%
  • Aleph ZeroAleph Zero(AZERO)$0.87-1.41%
  • Access ProtocolAccess Protocol(ACS)$0.002065-3.42%
  • zcashZcash(ZEC)$26.140.69%
  • theta-fuelTheta Fuel(TFUEL)$0.032827-1.68%
  • Ankr Staked ETHAnkr Staked ETH(ANKRETH)$1,925.73-2.13%
  • decredDecred(DCR)$13.10-3.36%
  • osmosisOsmosis(OSMO)$0.326327-1.98%
  • telosTelos(TLOS)$0.76-4.60%
  • CoinmetroCoinmetro(XCM)$0.66506.72%
  • WorldcoinWorldcoin(WLD)$1.521.47%
  • justJUST(JST)$0.022155-2.45%
  • olympusOlympus(OHM)$11.422.51%
  • ethereum-name-serviceEthereum Name Service(ENS)$7.510.13%
  • ankrAnkr Network(ANKR)$0.019006-1.52%
  • SifchainSifchain(EROWAN)$0.154725-4.65%
  • akash-networkAkash Network(AKT)$0.861.00%
  • holotokenHolo(HOT)$0.0010530.94%
  • FUBT TokenFUBT Token(FUC)$2.09-1.05%
  • BolideBolide(BLID)$0.029333-6.99%
  • merit-circleMerit Circle(MC)$0.396566-0.56%
  • BeldexBeldex(BDX)$0.032705-0.10%
  • ravencoinRavencoin(RVN)$0.0152840.47%
  • Bone ShibaSwapBone ShibaSwap(BONE)$0.79-1.87%
  • DEIDEI(DEI)$1.000.13%
  • Gains FarmGains Farm(GFARM2)$5,000.300.00%
  • stepnSTEPN(GMT)$0.150064-2.16%