Ep 57. Fine Art: A Portrait of Fraud

The show American Greed Season 6 Episode 57 titled "Fine Art: A Portrait of Fraud" explores the world of high-end art fraud and the criminals who orchestrate elaborate schemes to profit from it. The episode delves into the case of Lawrence Salander, a New York art dealer who defrauded investors, collectors, and artists out of more than $120 million over the course of three decades. Through interviews with those involved in the case, including Salander himself, the episode examines how the dealer created an air of exclusivity and expertise around his gallery, convincing his clients to lean heavily on his supposed expertise when making art purchases.

The episode follows the trajectory of Salander's rise in the art world. What began as a small gallery on the Upper East Side of Manhattan grew into one of the most prominent galleries in the art world, known for its high-profile exhibitions and the lavish lifestyle of its owner. Often peddling works by highly collectible artists like Mark Rothko, Jackson Pollock, and Willem de Kooning, Salander positioned himself as a connoisseur of modern art. He often boasted of his extensive personal collection, which he claimed to have acquired through savvy investments and shrewd purchasing decisions.

However, behind the scenes, Salander was deceiving his clients and investors through a series of elaborate cons. He would sell the same painting to multiple buyers, falsify records of sales, over-charge and underpay both artists and collectors he dealt with, and even forge the signatures of dead artists to create fake works. Over time, he amassed an enormous amount of wealth, using the money to fund a luxurious lifestyle filled with private jets, fancy cars, and exotic vacations.

However, his crimes eventually caught up with him, and Salander was arrested in 2009. In the episode, viewers get a rare look at the criminal proceedings that took place in the aftermath of Salander's downfall. We see the damage that his fraud caused, both financially and emotionally, to his victims, many of whom lost millions of dollars in the scams.

Through expert commentary from art historians, collectors, and industry insiders, "Fine Art: A Portrait of Fraud" gives viewers a glimpse into the world of high-end art fraud. The episode explores how the art market has long been a target for grifters and crooks looking to make a quick buck, and how the unregulated nature of the industry makes it difficult to prevent such crimes from happening. By shining a light on the Salander case, the episode highlights the importance of transparency and accountability in the art world, and emphasizes the need for greater protections for artists, collectors, and investors.