Police stepped up their search for a valuable painting which was stolen from a museum in Cairo. The painting taken was a Van Gogh original valued at approximately $55 million. The museum was reported to have had surveillance cameras and an alarm system but these were not functional.
The Mahmoud Khalil museum reported last Saturday that the “Poppy Flowers” was cut out of its frame.
Police say they are taking all means possible and are controlling the air and sea ports in order to grab a hold of the criminal. They are also interrogating the museum staff and have mentioned that state prosecutors have done the same as well.
A police officer told reporters that the cameras and alarm have long been out of order. Museum officials told them that they were trying to canvass some spare parts but haven’t managed to do so.
Abdel Meguid Mahmud, the prosecutor general, confirmed the allegations that the security at the museum was lax. He even called them inadequate and a facade. He says that only seven out of the forty three cameras are working. Even more surprising is that each painting has its own alarm but not one of them is functioning.
Mahmud also reiterated the need to increase the security in properties in Cairo. Last March 2009, nine paintings were stolen from a museum in northern Cairo called Ali Pasha’s palace.
Two Italians were reported to have been arrested on charges of trying to smuggle the painting out but the report was quickly withdrawn as it was said to be a result of inaccurate information.
Art dealers are looking into how they can get one of the most valuable paintings in Wales valued around £40m. The painting by Rembrandt is called Portrait of Catrina Hooghsaet and is currently on display in Gwynedd at the Penrhyn Castle in Bangor.
Stephen Somerville, the art adviser to the Penrhyn Settled Estates, said that over the last month he has received three calls regarding the painting.
Three years ago the Dutch Culture Ministry attempted to purchase the painting for an Amsterdam museum but they were unable to come up with enough funds for the high £40m price tag. After negotiating for six months, the museum was forced to pull out with only £26.4m available in funds.
Somerville stated that even though the painting is not actively available on the market as part of his job responsibilities he does pass on interest and inquiries to the Penrhyn Settled Estates Trust. The trust acts for the Douglas Pennant family who originally owned the Rembrant and is its true owners.
The family also owns the castle and trustee and poet Richard Douglass Pennant still lives on the castle grounds along with his wife although the home itself is actually owned now by the National Trust.
Somerville stated that during last month while he was in Italy he received three inquiries about the painting from agents and dealers that stated they wanted to get a client intrigued in purchasing it. As of the moment he added that that nothing had happened any further with the inquiries.
The last painting the Douglass Pennant family sold was the Jan Steen piece, The Burgomaster of Delft.
Almost two years ago Lehman Brothers were the largest victim of the financial fallout when the titan collapsed and fell off Wall Street. Although time has passed, administrators are still sorting through the mess as they are working to start auctioning off the art collection from the company in an effort to pay some of its creditors back.
Christie’s will hold the auction as denoted by PricewaterhouseCoopers and sell off a large amount of precious porcelain, paintings, and sketches that used to adorn its old Canary Wharf headquarters.
Even more as part of an attempt to get as much money as possible out of the auction old cigar boxes, tea caddies, and books from the headquarters will also be listed on the auction.
Those who want a more obvious piece of the company can bid on the building’s front sign predicted to go for anywhere from £2,000 to £3,000.
Back before the credit crisis, Lehman would entertain its top guests and clients by treating to the gallery of the London hallways and then offering them a gourmet lunch.
The auction for the Lehman goods is scheduled for September 29th with 300 lots on the rooster.
Included in the collection will be Gary Hume’s Madonna, which is estimated to fetch anywhere from £70,000 to £100,000 and works by the old masters as well such as Thomas Luny’s Dover Coast expected to fetch from £10,000 to £15,000.
PricewaterhouseCoopers partner Barry Gilbertson stated that there are many people spread out throughout the world that would love to have their hands on a piece of art from the Lehman connection.
Lawrence B. Salander, art dealer, co-owner of Salander-O’Reilly Galleries in New York and confessed fraud and thief who lived very well indeed on his unearned income, was sentenced Tuesday to six to eighteen years in prison and ordered to pay more than $114 million in restitution.
The 60-year-old Salander was arrested on suspicion of grand larceny and fraud in March last year, and was indicted on at least 100 counts of various crimes including perjury, scheming to defraud and forgery as well as grand theft amounting to $88 million and possibly more.
The ‘noted art dealer’ with a highly rated gallery on Manhattan’s Upper East Side apparently began his nefarious schemes several years ago, according to prosecuting attorneys. Salander was ‘in the habit’ of selling artwork that did not belong to him, and also selling the same item to more than one buyer.
During the final court proceedings on Tuesday, one after another of Salander’s victims rose to call for his conviction, and for a harsher sentence than that handed down by Justice Michael J. Obus.
Included among the number of those who suffered losses due to Salander’s criminal activities were such well-known public figures as tennis star John McEnroe and Robert De Niro Sr., father of the noted actor and an artist himself.
McEnroe said he had paid $162,500 to Salander and the Salander-O’Reilly Galleries that he expected them to use as investment in art that would be sold at a profit, but McEnroe himself never profited. De Niro was one of several noted contemporary American artists whose work was sold by Salander as his own property.
Attorney for the defendant Charles A. Ross told the court that his client was genuinely repentant, and argued for a lesser sentence, but the victims seem to feel that Salander is sorry only because he got caught.
Art dealers are looking into how they can get one of the most valuable paintings in Wales valued around £40m. The painting by Rembrandt is called Portrait of Catrina Hooghsaet and is currently on display in Gwynedd at the Penrhyn Castle in Bangor.
Almost two years ago Lehman Brothers were the largest victim of the financial fallout when the titan collapsed and fell off Wall Street. Although time has passed, administrators are still sorting through the mess as they are working to start auctioning off the art collection from the company in an effort to pay some of its creditors back.
Lawrence B. Salander, art dealer, co-owner of Salander-O’Reilly Galleries in New York and confessed fraud and thief who lived very well indeed on his unearned income, was sentenced Tuesday to six to eighteen years in prison and ordered to pay more than $114 million in restitution.