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Art Adviser Lisa Schiff Sentenced for $6.5M Fraud

3/19/2025

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Summary

Story summary

Lisa Schiff, a Manhattan art adviser, faces 2.5 years behind bars for swindling clients out of nearly $6.5 million between 2018 and 2023. Instead of investing in art, she funneled the money into her extravagant lifestyle. Alongside her prison sentence, Schiff is ordered to repay $9 million, sparking urgent discussions about the need for stricter oversight in the art advisory sector.

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Story summary

Lisa Schiff, a Manhattan art adviser, faces 2.5 years behind bars for swindling clients out of nearly $6.5 million between 2018 and 2023. Instead of investing in art, she funneled the money into her extravagant lifestyle. Alongside her prison sentence, Schiff is ordered to repay $9 million, sparking urgent discussions about the need for stricter oversight in the art advisory sector.