The Art Newspaper: ANNY SHAW
Artemus, the art leasing company co-founded by Asher Edelman, is suing Paul Kasmin gallery in the New York Supreme Court, claiming the firm “created and backdated false invoices” that Artemus relied on in the purchase of a Frank Stella painting in 2016.
In its complaint, Artemus contends that when it purchased the painting from the dealer Anatole Shagalov, the fact that Paul Kasmin gallery still retained a 40% share in the work was disguised. Artemus says that the gallery created two invoices backdated to 2014, which “falsely represented” that Kasmin had sold Stella’s La Scienza della Fiacca (1984) in its entirety to Shagalov for $430,000. Whereas, according to court documents, Shagalov had to pay at least another $168,000 to Kasmin to obtain the full title. …Read More
Picture: Asher Edelman, co-founder of Artemus © Patrick McMullan