New York prosecutor sues Sotheby’s for tax evasion

New York, Nov 6 (EFE) .- The attorney general of New York, Letitia James, filed a lawsuit in the state Supreme Court on Friday against the auction giant Sotheby’s, whom she accuses of evading the payment of millions of dollars in taxes.
“Millionaires and billionaires cannot be allowed to evade taxes while the average American pays his fair share,” James said in a prosecution statement, noting that Sotheby’s “violated the law” by failing to pay millions of dollars. dollars “simply to drive your own sales.”
“The lawsuit should send a clear message that no matter how well connected you are or how rich you are, no one is above the law,” the text added.
The complaint accuses Sotheby’s of using false “resale certificates” to avoid paying millions of dollars in fees, allegedly helping an art collector client to request a tax exemption for which he did not meet the requirements, knowing that he was. .
As part of a $ 10 million settlement reached in 2018 by the New York prosecutor’s office, this art collection company, Porsal Equities, admitted the misuse of resale certificates, claiming to be buying pieces from art to sell to a third customer, when in reality it was for personal and private use.
James’ lawsuit blames Sotheby’s, which allegedly knew it was not a normal purchase from an art dealer, and not only accepted the resale certificate, but also “facilitated its creation.”
According to the prosecution, Sotheby’s added this false information in 2010, and by 2015, it had committed this crime three more times.
Sotheby’s, which is headquartered in Manhattan’s wealthy Upper East, sells all manner of luxury goods, from art to jewelry to real estate and antiques.

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