He describes the art market as a corrupt, unregulated orbit sloshing with drugs, $5,000 bottles of wine, yachts, private jets, prostitution, and populated with oligarchs and “sons and daughters of the sinister rich” – all built around betting on “wildly unstable assets of no intrinsic value”.
‘The money is not real – it’s a feckless level of wealth’: the inside story of the biggest art fraud in American history | Art | The GuardianOrlando Whitfield was a student when he became best friends with Inigo Philbrick, ‘the art world’s Bernie Madoff’. He talks about how their decade of hustling would lead one to a breakdown – and the other to jail