Helly Nahmad Sued Over Allegedly Helping to Hide $20 Million Nazi-Looted Modigliani

June 8th, 2014

Helly Nahmad, recently convicted to a year in prison following his role in an illegal gambling ring, is being sued alongside his father for allegedly helping to hide a $20 Million Modigliani reportedly looted by Nazis.  The case, filed  by Frenchman Phillippe Maestracci in Manhattan Supreme Court this week, argues that the painting was hidden through a secretive company called International Art Center, and will attempt to force Nahmad to disclose the IAC’s leadership, and where it is located.  “This painting was bought at a Christie’s London auction in 1996 by IAC, and the location of the painting is a matter of public record,” says Nahmad lawyer Richard Golub.Read more New York Post