By Shayna Jacobs
DNAinfo Reporter/Producer
MANHATTAN SUPREME COURT — A disgraced art dealer pleaded guilty Thursday to ripping off at least 29 artists and high-end buyers, including John McEnroe and Robert De Niro's father, before promising to return $120 million to his well-heeled victims.
Lawrence Salander, 60, was indicted more than a year ago for a scheme where he dealt expensive art from a now-defunct Upper East Side gallery without the consent of owners.
His victims included art buyers, consignors and financial institutions like Bank of America.
In exchange for a plea deal that will see him serve six to 18 years in prison, he admitted to overselling shares in works that totalled more than the actual value. In one case, he sold shares equal to 150 percent of a painting, according to the charges.
He pleaded guilty to 29 counts of grand larceny and one count of scheme to defraud in the first degree.
"I am deeply sorry for my actions, and I am ashamed to have caused such harm to good friends and trusted business associates," Salander read in his plea allocution.
Salander, who recently had a stroke and needs assistance to walk, promised to pay back some of his victims, which the judge said he would consider when sentencing the former art dealer.
"This case involves a great deal of money," Supreme Court Judge Michael Obus said.
"I am hopeful that [the victims] will be paid back to the extent that it is humanly possible here."
Salander is due back in court on May 20 to deliver updates about his planned reimbursements.
