Newslinks for Friday, March 27, 2009

March 27th, 2009


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Marc Drier

Marc Dreier, the powerful attorney indicted on fraud charges totaling nearly $700 million, revealed as a substantial client of Larry Gagosian [ArtLovesMoney]
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and in related: Chris Burden on his exhibition at Gagosian Los Angeles that became entangled in the Allen Stanford fraud case [New Yorker]
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Spurred by a spate of deaccessionings, New York State looks at a bill aimed at limiting museums’ art sales [NY Times]
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Yvon Lambert closes fledgling London branch [Bloomberg]
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in in other recession-related: facing a shrunken endowment, Getty cuts its budget by a quarter [LA Times]

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via Traileraddict.com

Steve McQueen’s first feature film, ‘Hunger,’ opens in New York at the IFC Film Center [IFC film Center]
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London sees a number of Russian women as a force in the contemporary art scene [Financial Times]


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Curators of ‘New Deal’ at the Art Production Fund gallery, Matthew Moravec, left, and Kyle Thurman via NY Times

In their early 20s, two curators present an exhibition of artists 19 to 26 years old for Yvonne Force Villareal’s Art Production Fund [NY Times]
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Christian Holstad’s installation at X Initiative via NY Magazine

Jerry Saltz reviews two new energetic galleries: The Boiler in Williamsburg and X Iniatiative in the old Dia space [NY Magazine]
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The European Fine Art Fair in Maastricht displays trust in Old Masters [The Art Newspaper]
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Hirst, Serra, Koons and others bring in exceed estimates and bring in $6 million at Paris charity auction [Bloomberg]
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Asian Art Week actions sell robustly at both Christie’s and Sotheby’s [Crain’s]
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Artprice publishes its top 10 ranking of artists based on auction revenue in 2008 [ArtPrice]


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A portrait of Yves Saint Laurent by Andy Warhol via artnet

Pierre Bergé withdraws four portraits of his partner, the late Yves Saint Laurent, from an Andy Warhol exhibition in Paris four days the opening [Artinfo]
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Fashion designer contextualized art is again resilient: Sotheby’s Gianni Versace sale greatly exceeds its estimates [Artdaily]
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Vincent van Gogh, The Night Cafe, 1888, Via ARTstor Collections

Yale University files suit to claim ownership of Van Gogh, after self-proclaimed descendent of previous owner lay claim to the work [Associated Press]
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Director of SFMoMA sets example on how to tackle economic difficulty [NY Times]
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Jackie Wullschlager looks at three new books that explore Darwin’s influence on Modern art [Financial Times]
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Beacon in upstate New York is an art destination [NYTimes]


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Levi’s collaborates with Stefan Sagmeister on art series featuring its iconic 501 [PaperMag]
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and in related Lucien Pellat-Finet and Marc Quinn collaborate [Vogue]
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The Chapman Brothers direct new video for PJ Harvey and John Parish [NME]
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Michael Visocchi's proposal for Yield, Via Artdaily

Michael Visocchi has won the 2009 Jerwood Sculpture Park Prize [BBC]
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and in related, Pipilotti Rist has been awarded the 2009 Joan Miro Prize [Artdaily]
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RALEIGH WOMAN PLEADS GUILTY IN MORTGAGE FRAUD CONSPIRACY.

States News Service January 11, 2010 GREENVILLE — The following information was released by the United States Attorney’s Office for the Eastern District of North Carolina: in our site employment verification letter

The United States Attorney’s Office announced that in federal court January 8, 2010, MARY ROSE WRIGHT, 43, of Raleigh, North Carolina, pled guilty before United States Magistrate Judge David W. Daniel to wire fraud and conspiring to commit mail fraud, wire fraud, and bank fraud.

A Criminal Information was filed on November 23, 2009. According to the Information, from August, 2006, to November, 2006, WRIGHT, working as a mortgage broker for Fairway Mortgage, worked with others to defraud various financial institutions through the submission of false and fictitious mortgage loan applications. Using a falsified Power of Attorney giving authority on behalf of a co-conspirator to execute all documents in connection with the property purchase, WRIGHT then prepared false United States Individual Income Tax Returns for years 2004 and 2005 and a self-employment verification letter and caused to have prepared a fabricated financial statement to use in obtaining the property. She then submitted an offer to purchase a property. go to site employment verification letter

On November 27, 2006, WRIGHT submitted a loan application, which included false representations regarding borrower’s address, employment, bank account information, and rental real estate schedule, in connection with the purchase of the residential Raleigh property. That same day Equity Services, Inc., loaned a co-conspirator $1,537.500 for the property purchase.

In November, 2006, WRIGHT’s co-conspirator gave her $120,000 from a previously fraudulently obtained mortgage loan from Washington Mutual in the amount of $2,996,969 to be used as a down payment for the purchase of the Raleigh property. On November 27, 2006, WRIGHT took possession of the property after executing a HUD-1 statement containing false and fraudulent information. To date, no mortgage payments have been made.

“In recent years we have seen how pervasive bank fraud has become and how devastating it has been to our banking institutions and our economy. This guilty plea is another step in the Justice Department’s effort to deal with this problem and to ensure integrity in our financial systems,” stated John Stuart Bruce, Acting United States Attorney.

Investigation of this case was conducted by the Internal Revenue Service – Criminal Investigation Division, the North Carolina State Bureau of Investigation and the North Carolina Real Estate Commission. This case is being handled by the Office’s Economic Crimes Section, with Assistant United States Attorney Banumathi Rangarajan assigned as prosecutor .

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