Home » today » News » Sotheby’s auction house sued by New York State for fraud Sotheby’s auction house sued by New York State for fraud November 7, 2020 by world today news The businessman, Patrick Drahi, owner of the auction house, is accused of having facilitated the use by one of his main clients of false tax exemption certificates. Through Le Figaro with AFP –The Sotheby’s auction house is owned by French businessman Patrick Drahi. JOEL SAGET / AFP New York State Attorney sued Sotheby’s auction house, owned by French businessman Patrick Drahi, accusing it of facilitating use by one of its main clients false tax exemption certificates. “Sotheby’s broke the law and stole millions of dollars from New York taxpayers to boost sales”prosecutor Letitia James said in a statement on Friday. “The complaint should send the clear message that no one is above the law”, she added. The complaint follows a court case between New York State and Porsal Equities, owned by an art collector not directly named, said the prosecutor. Resale certificates reserved for art dealers As part of an amicable settlement with the State of New York in 2018, the collector and Porsal had acknowledged having benefited from tax exemptions on the purchase of works of art in 2010 and 2015 thanks to resale certificates reserved for art dealers. This, while he was not a trader and did not intend to resell the works. According to the prosecutor, Sotheby’s accepted these certificates when the auction house knew he was not a trader, and even helped produce these certificates. The alleged facts predate the acquisition in 2019 of Sotheby’s – the world’s second auction house behind Christie’s – by French telecommunications magnate Patrick Drahi. When contacted, Sotheby’s did not immediately react to the announcement of this legal action. — . Related posts:LIVE - Ligue 1: follow RennesTop 14 - USAP: the reasons to believe in direct maintenanceLove is… (not) celebrating Valentine's DayIn Nikolaev, the seller of radish threatened with murder for refusing to buy his goodsShare this:FacebookX Related Soldiers are murderers – one sentence, one sentence and the consequences Magnus Carlsen’s Play Magnus rises 15 percent after notification of Eurosport agreement Leave a Comment Cancel replyCommentName Email Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed. Search for: