The New York Times reports that dealer Mary Boone, who currently runs an eponymous gallery with two spaces in Manhattan, has pleaded guilty to filing false income tax returns.
“This is the worst day of my life,” Boone said in a statement emailed to ARTnews. “I have learned from my mistake and I am working very hard to put it behind me.”
According to the Times report, court papers and documents reveal that, in 2012, Boone reported that her business lost $52,000, when, in fact, the gallery had made a profit of $3.7 million in 2011. Authorities said that Boone had used $1.6 million for her personal expenses, among them remodeling her New York apartment; she then listed this under business deductions for her gallery.
Boone is scheduled to be sentenced in January. She has pleaded guilty to two counts, both of which carry a maximum sentence of three years in prison.
This report will be updated.
This article was written by cool news network.