New York Post- Housed in a 25,000- square-foot palazzo off Madison Avenue, Salander-O’Reilly Galleries bills itself as a top-flight New York dealer that offers unprecedented access outside of amuseum to Titians, Michelangelos and other masterpieces.
Roy Lennox, a senior managing director of hedge-fund company Caxton Associates, which manages more than $14 billion, puts it differently. During four years dealing with proprietor Lawrence Salander, Lennox claims he was a victim of “what has emerged as nothing more than an illegal Ponzi scheme,” according to a lawsuit he filed in August in New York State Supreme Court.
Lennox seeks to recover at least $4.6 million and $10 million in punitive damages.
John McEnroe says in a May suit that Salander didn’t make good on a promise to double the tennis star’s $162,500 investment in five months. Former New York Observer publisher Arthur Carter filed an August suit seeking more than $1.2 million for funds he says he’s owed.
