Ponzi Scheme Victim Awarded Over $33 Million in Art, including Warhol, Rothko, Lichtenstein

August 13th, 2013

A victim of convicted defrauder Marc Dreier has been awarded 18 artworks, valued at over $33 million, from Dreier’s collection, among them works by Damien Hirst, Andy Warhol, Mark Rothko and Roy Lichtenstein.  Dreier had given the victim a security interest in the works several years prior, in order to get their signature on forged promissory notes, which held a face value of over $110 million.  Other works from Dreier’s collection have already been sold at auction to help pay off his debts to other defrauded investors.

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