{"id":43491,"date":"2021-07-27T16:52:27","date_gmt":"2021-07-27T23:52:27","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=43491"},"modified":"2021-07-27T16:53:10","modified_gmt":"2021-07-27T23:53:10","slug":"art-dealer-allegedly-embezzled-funds-from-miracle-mile-art-gallery-bankrupt-estate","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=43491","title":{"rendered":"Art Dealer Allegedly Embezzled Funds from Miracle Mile Art Gallery Bankrupt Estate"},"content":{"rendered":"<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0<strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0LOS ANGELES<\/strong><\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">A noted art dealer was arrested Tuesday on federal charges accusing him of embezzling more than $260,000 from the bankruptcy estate of Ace Gallery, a Miracle Mile-based art gallery, according to officials.<\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\"><a href=\"https:\/\/cjnotebook.com\/two-defendants-of-1-3-billion-fraud-scheme-one-of-the-biggest-in-south-florida-guilty\/photo-by-bill-oxford-36\/\" rel=\"attachment wp-att-43383\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-43383\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2021\/07\/udxd2nrbxs8-300x200.jpg\" alt=\"gray knuckles\" width=\"300\" height=\"200\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2021\/07\/udxd2nrbxs8-300x200.jpg 300w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2021\/07\/udxd2nrbxs8-1024x683.jpg 1024w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2021\/07\/udxd2nrbxs8-768x512.jpg 768w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2021\/07\/udxd2nrbxs8-1536x1024.jpg 1536w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2021\/07\/udxd2nrbxs8-850x567.jpg 850w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2021\/07\/udxd2nrbxs8.jpg 1600w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>He stole the money while acting as the estate\u2019s trustee and custodian.<\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Douglas J. Chrismas, 77, of the Mid-Wilshire area of Los Angeles, surrendered without incident on Tuesday to special agents of the FBI. <\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">A federal grand jury charged Chrismas via indictment with three counts of embezzlement against a bankruptcy estate. Chrismas was ordered released on $50,000 bond.\u00a0<\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/cjnotebook.com\/former-receptionist-stole-446000-medical-office-new-jersey\/department-of-justice-2\/\" rel=\"attachment wp-att-6759\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-6759 alignleft\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/10\/Department-of-Justice-300x197.jpg\" alt=\"\" width=\"300\" height=\"197\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/10\/Department-of-Justice-300x197.jpg 300w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/10\/Department-of-Justice-90x60.jpg 90w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/10\/Department-of-Justice.jpg 600w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>According to the indictment returned on March 16 and unsealed, Chrismas was the president and CEO of Art and Architecture Books of the 21st Century, which did business as Ace Gallery and was located on the Miracle Mile in the City of Los Angeles.<\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In February 2013, Ace Gallery filed a Chapter 11 bankruptcy petition in Los Angeles and continued to operate as a bankruptcy estate with Chrismas acting as the gallery\u2019s president, trustee, custodian and overseer of its operations. <\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">In this role, Chrismas also had access to the gallery\u2019s property. Chrismas remained in control over Ace Gallery until April 2016, when an independent bankruptcy trustee was appointed to run the bankruptcy estate and Chrismas was removed as trustee and custodian.<\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In late March and early April of 2016, Chrismas allegedly embezzled approximately $264,595 that belonged to the Ace Gallery bankruptcy estate, including a $50,000 check that Chrismas signed, was drawn against the estate and was paid to a separate corporation that Chrismas owned and controlled.<\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Chrismas allegedly also embezzled $100,000 owed to Ace Gallery by a third party for the purchase of artwork but the funds instead were paid \u2013 at his direction \u2013 to his separate corporation. <\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">Finally, Chrismas embezzled approximately $114,595 owed to the gallery by a third party that purchased artwork. Instead, he ao paid to a creditor of his separate corporation, according to the indictment.<\/span><span style=\"font-size: 20px;\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 If convicted of all charges, Chrismas is facing up to fe 15 years in federal prison.<\/span><\/p>\n<p class=\"yiv3614227861MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The FBI\u2019s Art Crime Team and the Office of the United States Trustee investigated this matter.<\/span><b><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0LOS ANGELES A noted art dealer was arrested Tuesday on federal charges accusing him of embezzling more than $260,000 from the bankruptcy estate of Ace Gallery, a Miracle Mile-based art gallery, according&#8230;<\/p>\n","protected":false},"author":1,"featured_media":43381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-43491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Art Dealer Allegedly Embezzled Funds from Miracle Mile Art Gallery Bankrupt Estate<\/title>\n<meta name=\"description\" content=\"\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0LOS ANGELES A noted art dealer was arrested Tuesday on federal charges accusing him of embezzling more than $260,000 from the bankruptcy estate\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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