Why Was Inigo Philbrick Arrested? Wikipedia Bio & Sentencing News

Why was Inigo Philbrick arrested? After pleading guilty to a $86 million scam, high-end art dealer Philbrick was sentenced to seven years in jail. Here's every detail you need to know about Inigo.

Inigo Philbrick is an art dealer who has galleries in London and Miami. He conducted a "Ponzi-like scheme" in which he utilized money from some consumers to buy artwork, pay off others, and fund his extravagant lifestyle.

Philbrick had a reputation as a wunderkind gallerist before becoming recognized as the art world's "mini-Madoff." By his early 30s, Philbrick had built two of his art galleries, thanks to his boyish good looks and even strong contacts.

Why Was Inigo Philbrick Arrested? Sentencing News Explored

Inigo Philbrick, a high-end art dealer, was sentenced to seven years after pleading guilty to a $86 million scam. He has also charged with identity theft.

The arrest of Inigo Philbrick was featured on the main page of the Vanuatu newspaper.

The 34-year-old dealer pled guilty to wire fraud in November, roughly a year after being seized by US police on the island of Vanuatu. He told a New York judge that he did it for the money. Philbrick agreed to lose $86 million and two artworks as part of the plea agreement.

According to US Attorney Damian Williams, Inigo's career as an art dealer came after he collateralized and resold fractional interests in high-value modern art.

Inigo confessed to his victims and called his actions "outrageous and reprehensible" in a statement read to the judge in federal court in Manhattan on Monday.

Inigo Philbrick Wikipedia Bio: Details To Know

Inigo Philbrick is an art dealer with galleries in London and Miami. According to Wikipedia, his business concept, which is becoming more widespread in the art industry, was centered on selling works to groups of many customers rather than individual investors.

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He was hired as an intern at London's famed White Cube gallery in 2010. He started his gallery and consultancy in Mayfair, London, in 2013, with Jopling's financial support, specializing in postwar and contemporary art.

Inigo Philbrick Wife: Is He Married?

Inigo Philbrick has not yet married. But, he is in a relationship with Victoria Baker-Harber. In the summer of 2016, the two met through mutual friends. Victoria is a well-known television personality.

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Victoria gave him the moniker 'Fruit' because of their unlawful relationship.

Talking about his net worth, he has an estimated net worth of $70 million, as per his Art News. In addition to that, he promised to pay up more than $86 million in scheme earnings. As a result, we can confidently state that he has amassed significant wealth.