Lisa Schiff, a prominent New York art adviser, has been sentenced to two-and-a-half years in prison for defrauding clients out of approximately $6.5 million. Her fraudulent activities spanned from 2018 to 2023, affecting artists, estates, galleries, and clients. Schiff mismanaged funds meant for art purchases, often pocketing client money for personal expenses. She faced multiple lawsuits, notably from heiress Candace Carmel Barasch and collector Richard Grossman, accusing her of mishandling art transactions. Additionally, she has been ordered to pay substantial restitution to her victims.
Lisa Schiff's successful façade as a top art adviser masked a fraud scheme that defrauded clients out of approximately $6.5 million over five years.
In total, Schiff faces two-and-a-half years in prison and must pay back $9 million to victims after misappropriating funds meant for art transactions.
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