By Judd Tully. Posted on 4/19/18.
In the 53-page complaint that includes lines that reference Shakespeare (“Something is rotten in the state of Denmark”) and that are almost Dickensian, New York litigator Aaron Richard Golub charges, “Behind the ostensible façade of Jeff Koons’ art world triumphs and record-breaking auction prices . . . lurks a well-oiled machine, more specifically an established, archaic System as old as the hills applied to the art world to exploit art collectors’ desire to own Jeff Koons sculptures. The archaic system, once all of the obfuscations are stripped away, exposes a garden-variety, interest-free, fraudulent financial routine that harkens the name Ponzi. New money is used to pay old obligations, not to mention that the archaic System is one that oversold the artist’s capacity. Ponzi meets The Producers.”