Since 2019 we have covered the unraveling fraud scheme of disgraced art dealer Inigo Philbrick. Philbrick, who has defrauded art collectors, investors, and institutions of $86M, pleaded guilty in Manhattan court on one count of wire fraud. During the hearing, he admitted knowing what he was doing was “wrong and illegal,” but greed got the best of him when trying to finance his business. The judge has ordered Inigo Philbrick to restitute over $86M and give up his stake in 2 undisclosed paintings by Christopher Wool and Wade Guyton. The sentencing will take place in March; he could be facing up to 20 years in prison. We will update you in a few months with the verdict.
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