. Jailed Art Dealer Inigo Philbrick Has Pleaded Guilty to Fraud and Will Turn Over More Than $86 Million in Funds Linked to His Crimes « JO LEE MAGAZINE

ART NET NEWS – Disgraced art dealer Inigo Philbrick pleaded guilty to a criminal charge of wire fraud in a federal court in Manhattan this afternoon. He faces up to 20 years in prison when he is sentenced next March. Philbrick also agreed to turn over to authorities some $86.7 million that is said to be traceable to the fraud, and to forfeit paintings, including one by Christopher Wool and one by Wade Guyton. Philbrick will make restitution to his victims in an amount yet to be determined by the judge. 

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