He is considered an Enfant Terrible of the art industry, now he is under heavy suspicion of fraud: Berlin star gallerist Michael Schultz was arrested last Thursday by the LKA in his apartment in Charlottenburg.
He is accused of having sold works of art with counterfeit certificates for millions of dollars to collectors. He simply did not deliver other works after payment. According to the investigators, these are classic paintings, drawings, etchings and sculptures.
Investigators searched six other residential and business premises in Berlin and Brandenburg. According to the police, assets were seized and evidence was secured.
The fraud exploded when a collector wanted to resell a picture obtained from Schultz through a large auction house. The auctioneer turned to the artist. He said that he never painted the picture.
The gallery of Michael Schultz in Mommsenstraße in Berlin-Charlottenburg is already closed. However, a magistrate released the art dealer on condition of poor health. (Tsp)