Onetime art adviser to actor Leonardo DiCaprio, among others, pleads guilty in $6.5 million fraud

Associated Press

NEW YORK (AP) — An art adviser who once counted actor Leonardo DiCaprio among her wealthy clients has pleaded guilty to wire fraud. Lisa Schiff admitted she defrauded clients out of $6.5 million in the sale of 55 artworks. Schiff entered the plea Thursday in Manhattan federal court. Prosecutors say Schiff diverted her clients’ money from 2018 to May 2023 to pay personal and business expenses. Court documents say Schiff ripped off clients by selling artwork belonging to them without telling them or by accepting their money to buy art she didn’t purchase. Her lawyer says his client is remorseful and will do everything she can to return the stolen money.