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N.Y. art dealer charged with theft

NEW YORK, March 26 (UPI) -- A New York art dealer was charged Thursday with stealing $90 million from art collectors and those hoping to use paintings as an investment.

Lawrence Salander was arrested at his home in Millbrook, N.Y., Art Info reported.

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At a news conference, Manhattan District Attorney Robert Morgenthau called Salander "a very good salesman."

"Salander stole from his victims in two primary ways," Morgenthau said. "He sold artwork not owned by him and kept the money; and lured investment money in fraudulent investment opportunities."

His alleged victims include tennis star John McEnroe.

Salander has been in the art business for 40 years. He started the Salander-O'Reilly Gallery on the Upper East Side with a partner in 1989 and became the sole proprietor a few years later.

He faces a number of lawsuits, including one that describes his gallery as "nothing more than a Ponzi scheme," The New York Times reported.

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