Tuesday, November 27, 2007

Criminal Charges in Astor Case

The New York Times reports today that Brooke Astor’s son, Anthony Marshall, and one of her former lawyers have been indicted on criminal charges "stemming from the stewardship of her financial affairs and the handling of her will":

"Prosecutors were believed to be investigating millions of dollars in cash, property and stocks that Mr. Marshall obtained over the years in his role as steward of his mother’s finances. That included the sale of one of Mrs. Astor’s favorite paintings, 'Flags, Fifth Avenue,' also known as 'Up the Avenue from Thirty-Fourth Street, May 1917,' by Childe Hassam, for $10 million. Mr. Marshall collected a $2 million fee from his mother for handling the transaction."

Earlier post here.