Lisa Schiff, a top art adviser, pleaded guilty to wire fraud for stealing $6.5 million from her clients who trusted her to purchase art on their behalf.
U.S. Attorney Damian Williams stated, 'For years, Lisa Schiff breached the trust of her art advisory clients by lying to them and diverting millions of dollars...'
Her attorney, Randy Zelin, remarked that Lisa has been eager to take responsibility, describing the upcoming sentencing as 'an extraordinarily daunting thing'.
The plea agreement, which involves Ms. Schiff forfeiting about $6.4 million, also includes a felony charge carrying a maximum penalty of 20 years in prison.
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