The Inigo Philbrick art scandal (here are a couple of our earlier posts on the matter: Inigo Philbrick – More Art World Greed, Kenny Schachter Duped by Inigo Philbrick) is getting more complex. It now seems that Peter Klimt, a British entrepreneur who created the now defunct Dawnay Day, is claiming that he owns 50% of a Rudolf Stingel painting that many other investors are claiming ownership of. In fact, there are numerous works that Philbrick sold multiple times, including paintings by Basquiat, Wool, and Picasso… in all, it seems he generated over $20 million.
What I am most interested in, is how our legal system will handle this mess. Philbrick needs to face some serious jail time, and not just a year or two… decades!