John McEnroe,BofA duped in $88 mn art scam

Victims of Salander’s fraudulent scheme included McEnroe,who invested $2 million for a half share of two paintings,Arshile Gorky’s “Pirate I and II,” but never recouped the money,authorities said.

Morgenthau said Salander was an art dealer and the former owner of Salander-O’Reilly Galleries. The scheme,which lasted from 1994 to 2007,included luring investors who paid cash in exchange for shares of ownership of works of art.

“He sold artwork not owned by him and kept the money,and lured investment money in fraudulent investment opportunities,” Morgenthau said.

Morgenthau said Salander also represented the estate of actor Robert De Niro’s father but the actor was not involved with the charges unveiled on Thursday and the investigation was continuing.

Others who lost money included Renaissance Art Investors,a company focused on investment in old master paintings,which lost $45 million,authorities said.

Earl Davis,the son of American abstract painter Stuart Davis,lost $6.7 million,authorities said,while Bank of America lost $2 million after Salander lied about paintings he owned to secure a loan.