Real estate developer and high-profile art collector Michael Shvo, and related shipping companies, were indicted by the New York district attorney Cyrus Vance yesterday, September 8, on charges of evading more than $1 million in sales and use tax on fine art, jewelry, and luxury sports cars. The indictment does not name specific artworks.
Shvo pleaded not guilty, and was released on a $500,000 bail.
To read the full article:
https://news.artnet.com/art-world/collector-michael-shvo-indicted-tax-evasion
