Los Angeles, CA—Douglas Chrismas, a 80-year-old key figure in the art world, made headlines following his FBI arrest on July 27, 2021, on charges of embezzlement.
Chrismas, who once ran the prestigious Ace Gallery, was accused of embezzling substantial sums of money through various fraudulent activities. First disclosed by Los Angeles Times, according to the authorities, Chrismas diverted over $260,000 from the gallery for personal use. In numerous instances, he used falsified invoices and deceptive financial maneuvers to siphon funds, betraying the trust of artists and patrons alike. The court, underlining the gravity of his offenses, handed down a significant custodial sentence, marking a dramatic fall from grace for the once-renowned art dealer. The case has cast a shadow over the art community, underscoring the critical need for transparency and accountability.
Chrismas sentencing will take place on September 9, 2024
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