Lisa Schiff Gets 30 Months in Prison, But What Sets this Case Apart from Other Art World Scandals?
The Art Daddy spoke with art lawyer Polina Ivko about Lisa Schiff's sentencing this week.
This week another art world scandal came to a close with the sentencing of disgraced art dealer Lisa Schiff. Schiff had been in the headlines over the last year and a half following multiple allegations of her financial indiscretions which defrauded multiple high profile clients including several celebrities. On Wednesday at the Federal Courthouse in downtown Manhattan, Schiff was sentenced to serve 30 months in prison.
In October, Schiff pled guilty to one count of wire fraud and agreed to pay back $6.4 million to her former clients. The charges which could have wound her up in prison for up to 20 years, were shorter than what the U.S. Attorney’s office was seeking –41 to 51 months. Schiff has been ordered to surrender on July 1st. She was also the subject of a NYT profile last month following her sentencing this week.
Daddy’s all time favorite photo of Lisa.
Schiff is the latest in a series of high profile scandal cases that have rocked the art world in the last decade. Inigo Philbrick, the charismatic and well placed art dealer, who served 4 years of a 7 year sentence for defrauding over $86 million, was released this past summer. Philbrick remained under house arrest for several months after following his sentence. Anna Delvey also made waves after she conned people inside and outside of the art world claiming to be a Russian heiress worth $60 million dollars. She attempted to secure a $22 million loan for an elite social club and arts foundation but failed to provide legitimate financial backing.
Her story gained widespread attention through the New York Magazine article, "How Anna Delvey Tricked New York’s Party People" (2018).
She was sentenced to 4-12 years in prison, fined $24,000, and ordered to pay restitution. She was released in 2021 but was later detained by ICE for overstaying her visa. Delvey has found her way back into the public eye following the 2022 Netflix series Inventing Anna which was produced by powerhouse Shonda Rhimes. Delvey aka Anna Sorokin has been under house arrest over the last 4 years and following a 2024 appearance on Dancing with the Stars has managed to come back. She also walked in a series of fashion shows during NYFW in February. Mary Boone also served prison time and was released in 2021 following a 30 month sentence for tax evasion.
Following Schiff’s sentencing, I recently reached out to art lawyer Polina Ivko, a managing partner at Adwar Ivko, to see what this case means in a broader sense for the art world, and how Schiff stacks up against these recent high profile cases.
Art Daddy: What are some aspects of the Lisa Schiff case that have set it apart from other high profile art legal scandals in the last 5 years such as with Inigo Philbrick or Anna Delvey?
Polina Ivko: What sets Schiff’s case apart is not just the level of her wrongdoings but the efficiency with which the case has been handled and Schiff’s cooperation. Unlike cases such as Inigo Philbrick’s, Schiff’s case was resolved with remarkable speed. Philbrick’s case involved a more complex fact pattern, lengthier investigations, and an adversarial legal battle. He even went so far as to file a handwritten appeal notice from prison. On the other hand, Schiff quickly waived indictment, pled guilty, and proceeded to sentencing within months. Even her bail conditions seem more lenient. Although Schiff submitted victim impact statements (likely to aid her during sentencing), she did not engage in aggressive defense tactics. It is clear that her legal strategy centered on not wasting any time and resolving this case as quickly and painlessly as possible for Schiff.
AD: As a lawyer working in the art industry, do you think these kinds of cases are becoming more commonplace?
PI: I think they have always been commonplace. It’s a matter of who got caught, who didn’t, and which case got on the radar of the press.
AD: What do you think Schiff’s lawyer is advising her to do as she prepares for her sentencing?
PI: Given the efficiency with which this case has progressed, Schiff is likely seeking a light sentence. Her attorney is almost certainly preparing her for her formal address to the court (a.k.a. allocution), where she will provide context for her wrongdoings, highlight any mitigating circumstances, and express remorse.
AD:What is your reaction to her sentencing? And what are some factors that you think played a role in the decision?
PI: Schiff’s sentence is relatively lenient, as I anticipated, though not unexpected given the circumstances. Unlike Philbrick’s elaborate schemes, Schiff’s early guilty plea, cooperation, and the narrower scope of her fraudulent conduct undoubtedly influenced the court’s decision. If she remains compliant with the order and demonstrates good behavior, an early release is certainly within her reach.
AD: Is there anything else you’d like to add?
PI: I’m curious about Schiff’s next chapter. The art world has shown a remarkable capacity for reinvention for those who have fallen from grace. Anna Sorokin (Delvey) secured a Netflix deal and an art exhibit (among other gigs), Philbrick landed a Vanity Fair spread, and many disgraced art fraudsters ultimately find their way back into the fold. Will Schiff follow suit?
Polina Ivko, a New Yorker with roots in Ukraine, is an artist and musician turned lawyer with a proven track record in the art and entertainment sectors. Recognized as a “powerhouse” by her clients and multiple organizations, she advises a global clientele that includes public and private companies, individuals, institutions, and governments. Polina is a frequent speaker and a prolific writer on cutting-edge topics related to art, music, film, and luxury goods, drawing from her diverse experiences in judicial clerkship, private practice, in-house and business advising.