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Art Dealer Inigo Philbrick Sentenced To 7 Years After Swindling $86M

Inigo Philbrick, the art dealer who allegedly defrauded his clients of millions of dollars, was sentenced to 7 years in prison by a New York court.

The allegations against Inigo Philbrick first surfaced in 2019, when trusted sources at prestigious art firms claimed that the art dealer had been covering details while making multi-million dollar deals. Soon, many allegations of defrauding past clients and firms surrounded the once-famous art dealer. However, the major setback occurred when Philbrick was accused of withholding information about Yayoi Kusama’s Infinity Room installation from a German art firm set to buy it.

In 2020, Inigo Philbrick was arrested by US authorities and put under indefinite detention. Last November, after almost a year in custody, finally pleaded guilty to wire fraud. He also gave up the details of $86 million and two paintings as part of his plea deal. On Monday, he was presented before a New York court on the said charges, on which he was found guilty. He was also found guilty on charges of theft. The court sentenced him to seven years in prison.

During the court proceedings, Philbrick’s legal team presented arguments for his case, including citing his young age and the nature of the job as factors behind the crime. On the other hand, a US government representative said that they had received 16 requests for restitution of artworks stolen by Philbrick and expect the number to only grow. Judge Sidney H. Stein, who presided over the case, urged Philbrick to use his time in prison as effectively as he could.