Asher Edelman Files Lawsuit Over Fraudulent Art Deal

February 4th, 2014

Asher Edelman, via WSJCollector and dealer Asher Edelman has filed a lawsuit claiming he has been victimized in a fraudulent deal for the sale of more than 100 works claimed to be by Picasso, Matisse, and more.  The lawsuit states that Swiss company Artmentum convinced Edelman’s company that a Japanese museum was seeking to sell $400 million in art, a statement that Edelman claims was wholly false.  “Each defendant, acting individually and in concert with each other, participated in an elaborate, fraudulent scheme in the guise of an international art transaction designed to deprive ArtAssure of hundreds of millions of dollars,” the lawsuit says.

Read more at Wall Street Journal