Art & Money Laundering

The Financial Times believes the art world is vulnerable to money laundering.

Richter Clarification

In last week’s newsletter, we reported that Sotheby’s Financial Services has two Gerhard Richter works pledged as collateral for a loan. The works were listed in a filing related to the loan that named the Metropolitan Museum of Art as the bailee for the works, meaning the art is in the Met’s possession for the upcoming Richter show…