Art dealer Perry Rubenstein, 63, pleaded no contest on March 30 to charges that he failed to pay more than $1 million to the owners of paintings sold through his gallery, the Los Angeles County District Attorney’s Office announced.
Rubenstein entered his plea to two counts of grand theft by embezzlement. He is scheduled to be sentenced on May 22.
In 2013 Rubenstein claimed that he sold two paintings by artist Richard Prince for Michael Ovitz, totaling nearly $1 million. In both instances Rubenstein allegedly never paid his client and kept the proceeds. Rubenstein is accused of selling a painting by Takashi Murakami in 2012 on behalf of Michael Salke and failing to turn over the full amount to Salke.
Originally published in the May 2017 issue of Maine Antique Digest. © 2017 Maine Antique Digest