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Just months ago, New York art maven Lisa Schiff was basking in luxury as a consultant for the ultra-rich. The 53-year-old kept up with her clientele by living in a $25,000 a month apartment, splashing out on couture clothing, and sending her son to a pricey private school, according to documents filed in a lawsuit this month. Her clients included Leonardo DiCaprio and Sprinkles Cupcakes founder Candace Nelson, and she was a regular at glitzy society galas and hip art hangouts. At Art Basel in Miami Beach—where she sported rose-tinted glasses—she was lauded as “one of New York City’s top art advisers.”
Then, this month, it all fell apart.
In a dizzying fall from grace, Schiff was accused by a close friend and client of running a “Ponzi scheme” and misappropriating millions of dollars from art deals. Her website quickly disappeared from the internet, and on May 17, she filed a notice with New York Supreme Court that her business was defunct. Schiff’s offices in New York and London are now empty. Two lawyers say she could face criminal charges if the allegations against her hold up.
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