LOS ANGELES (CBSLA.com) — A former art dealer is scheduled to be arraigned Friday on three felony charges for allegedly failing to pay more than $1.8 million to the owners of paintings sold through his gallery, including former Hollywood powerbroker Michael Ovitz.
Perry Rubenstein, 62, is charged with three counts of grand theft by embezzlement, according to the Los Angeles County District Attorney’s Office.
Rubenstein claimed that he sold two paintings by artist Richard Price for Ovitz in 2013, totaling more than $1 million, according to the District Attorney’s Office, but never paid his client and kept the proceedings.
He is also accused of selling a painting by Takashi Murakami on behalf of art collector Michael Salke, but failing to turn over the full amount to him.
Prosecutors are recommending that Rubenstein’s bail be set at $1 million.
If convicted as charged, he faces up to 15 years in state prison, according to the District Attorney’s Office.
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